From the Global Arbitration Review (1/16/12):
“The world’s first specialist centre to resolve disputes arising from complex financial transactions has opened in The Hague.
PRIME Finance – the Panel for Recognised International Market Experts – was declared open for business today by the Dutch minister of finance, Jan Kees de Jager. It will draw on the expertise of a panel of over 80 legal and financial market specialists to resolve disputes over credit derivatives, collaterised debt obligations and other exotic financial products that have gained notoriety during the financial crisis.
“In a speech to mark the launch, [Jeffrey Rosen, founder] suggested that using specialised tribunals to tackle problems that arise in the financial markets might provide an alternative to the greater regulation and restriction on products called for by the press. Tribunals can perform the function of ‘hospitals’, he argued, curing problems without curbing innovation and risk-taking.”
H/T Chris Bloch