HomeGAR coverage of the 6th P.R.I.M.E. Finance Annual Conference

GAR coverage of the 6th P.R.I.M.E. Finance Annual Conference

On 1 February 2017, Global Arbitration Review published an article on the 6th P.R.I.M.E. Finance Annual Conference that took place in The Hague on 23 and 24 January of this year. The Annual Conference had over 200 registrants from all over the world that came together at the Peace Palace to discuss a diverse range of issues in the fields of complex financial products and dispute settlement: from Brexit and its implications in the international financial markets and contracts to Fintech, Legal Tech and the fundamentals of valuation and damage calculations.

The GAR article focused on the views that the chairs of each of the sessions had regarding their respective panels.

The reality of Brexit

"Brexit represents an unprecedented set of challenges, not least in the law that applies to financial market transactions and financial contracts. The repercussions will be felt not only in the UK, but also across the EU and beyond. There are no easy answers."

Edward Murray, Allen & Overy and deputy High Court judge in England and Wales

Developments in sovereign finance

"The panel on sovereign finance explored a variety of ways in which PRIME Finance experts can contribute to resolving disputes involving sovereign debt."

Eli Whitney Debevoise II, Arnold & Porter

Fundamentals of valuation and damage calculations

"The valuation of complex financial instruments and portfolios of instruments involve an understanding of market-understood building blocks and valuation techniques and methodologies. These building blocks and valuation techniques and methodologies, while intended to be a science, nevertheless involve considerable art."

Jonathan Ross, director of the Reserve Bank of New Zealand

Views from the bench, a judicial roundtable

"Our views from the bench panel offered interesting and engaging perspectives from judges and justices representing trial and appellate courts on three continents discussing the role of experts and specialised courts in resolving complexfinancial disputes. Many questions from the audience promoted lively discussions."

Judge Elizabeth Stong, US Bankruptcy Court, Eastern District of New York

The art of the new: Fintech and Legaltech

"The FinTech panel considered many developments in the area of financial technology, regulatory technology and legal technology. It highlighted the promise of technology in financial markets but also areas of concern going forward. The panel also emphasised the relevance of technology for PRIME Finance."

Robert Pickel, Rutter Associates

A year in case law: decisions affecting financial contracts

"The session took a helicopter tour of five jurisdictions: Portugal, Italy, Japan, Germany and the Netherlands. The panel highlighted the main derivative cases in each of their respective jurisdictions which affect one another, particularly in Japan and Germany where there have been related legislative developments. Details of country specific problems were presented and a range of problems, from gambling and suitability issues to capacity, were discussed: the detail of analysis and breadth of subjects was well received by the audience. It also showed the depth of expertise of PRIME Finance."

Peter Werner, senior counsel at International Swaps and Derivatives Association

Financial market regulation: ever-evolving and ever-present

"The G-20 Financial Reforms introduced following the 2008 Financial Crisis is at a watershed as the Trump administration commences and the UK faces the possibility of a Hard Brexit. As financial regulation evolves in response to these and other changes, such evolution will have a significant impact on financial contracts. The efforts of PRIME are essential for ensuring the international harmonisation of evolving financial regulation."

Carolyn Jackson, Katten Muchin Rosenman

To access the GAR article, click here.