P.R.I.M.E. Finance Looks Back on Successful 6th Annual Conference
P.R.I.M.E. Finance (the Hague-based Panel of Recognised International Market Experts in Finance) looks back on a very successful sixth Annual Conference, which took place in the Peace Palace on 23 & 24 January. H.E. the Hon. Sir David Baragwanath KNZM, Chairman of the P.R.I.M.E. Finance Advisory Board, Appellate Judge and former President, The Special Tribunal for Lebanon, conducted the welcoming remarks in the opening proceedings, followed by Ingrid van Engelshoven, Deputy Mayor of The Hague, who opened the conference. Steven Maijoor, Chair of the European Securities and Markets Authority, and Hugo H. Siblesz, Secretary-General of the Permanent Court of Arbitration, each gave a key note address.
This is what the different Chairs say about 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 U.K., but also across the EU and beyond. There are no easy answers." (Edward Murray, Consultant, Allen & Overy LLP; Deputy High Court Judge in England and Wales, Chancery Division; Chairman, the International Swaps and Derivatives Association (ISDA) Financial Law Reform Committee (FLRC); P.R.I.M.E. Finance Expert)
DEVELOPMENTS IN SOVEREIGN FINANCE
"The panel on sovereign finance explored a variety of ways in which P.R.I.M.E. Finance experts can contribute to resolving disputes involving sovereign debt." (Eli Whitney Debevoise II, Senior Partner Arnold & Porter LLP; Member, ICSID Panels of Arbitrators and Conciliators; former U.S. Executive Director, World Bank Group; P.R.I.M.E. Finance Expert)
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, Reserve Bank of New Zealand; retired Partner, Bell Gully; P.R.I.M.E. Finance Expert)
VIEWS FROM THE BENCH, A JUDICIAL ROUND TABLE
"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 complex financial disputes. Many questions from the audience promoted lively discussions." (The Hon. Judge Elizabeth S. Stong, P.R.I.M.E. Finance Management Board; Judge, 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 P.R.I.M.E. Finance." (Robert G. Pickel, Affiliate, Rutter Associates LLC; former Chief Executive Officer, Executive Vice Chairman and General Counsel, International Swaps and Derivatives Association (ISDA); P.R.I.M.E. Finance Expert)
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 P.R.I.M.E Finance." (Peter Werner, Senior Counsel, International Swaps and Derivatives Association (ISDA); P.R.I.M.E. Finance Expert)
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 U.K. 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 P.R.I.M.E. Finance are essential for ensuring the international harmonisation of evolving financial regulation." (Carolyn Jackson, Partner, Katten Muchin Rosenman UK LLP; former Executive Director and Board Member, International Swaps and Derivatives Association (ISDA); P.R.I.M.E. Finance Expert)
For the full Press Release, please click here.