Arbitration Watch – Issue No. 26 (April-June 2015)
Expedited Procedure for Financial Services Disputes
The financial sector branch of the Arbitration Club has developed a procedure to expedite arbitration disputes in the financial services industry. Financial institutions have long seen arbitration procedures as slow and uncertain, in an industry that moves very quickly. The procedure was launched on 30th April 2015 and is freely available to use by parties contemplating arbitration. The procedure is designed to be consistent, and a supplement to standard rules of major arbitral institutions, including ICC, LCIA, ICDR, the Swiss Chambers’ Arbitration Institution and HKIAC, which were all consulted during the draft.