Singapore Financial System: Financial Disputes in Commercial Arbitration
Purpose: the article examines the main problems associated with the extension of arbitration of domestic and international financial disputes in Singapore. The characteristics of the development of international commercial arbitration in Singapore, including the role of the Singapore International A...
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| Format: | Article |
| Language: | Russian |
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Nauka
2017-10-01
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| Series: | Модернизация, инновация, развитие |
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| Online Access: | https://www.mir-nayka.com/jour/article/view/762 |
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| _version_ | 1849253068277809152 |
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| author | Ekaterina P. Rusakova |
| author_facet | Ekaterina P. Rusakova |
| author_sort | Ekaterina P. Rusakova |
| collection | DOAJ |
| description | Purpose: the article examines the main problems associated with the extension of arbitration of domestic and international financial disputes in Singapore. The characteristics of the development of international commercial arbitration in Singapore, including the role of the Singapore International Arbitration Center SIAC, examined the new SIAC Arbitration Rules - the Arbitration Rules of 2016 and the Investment Arbitration Rules of 2017, as well as the Arbitration Regulations of the Singapore Exchange 2006 and the Arbitration Rules Singapore Exchange on the Derivatives Trade 2005. In order to achieve this goal, the article must solve the following tasks: to determine whether there are institutions providing services in Singapore and on the arbitration of financial disputes; to study the main problems of transferring a cross-border financial dispute to international arbitration; to study the practice of international arbitration on this issue.Methods: this article is based on an interdisciplinary concept of research, which allowed to distinguish the distinctive features of the legal regulation of the settlement of financial disputes in Singapore.Results: the provisions of the Arbitration Rules of 2016 and the Investment Arbitration Rules of 2017 are innovative not only for the SIAC Center, but for all international commercial arbitration as a whole. The new regulations of the SIAC Center enshrined provisions for the consolidation of arbitral proceedings in disputes from two or more treaties; on attracting additional parties; the refusal of claims or objections at an early stage if the claim or objection is manifestly unfounded from a legal point of view or the claim / objection is obviously beyond the jurisdiction of the Arbitration Tribunal; on delocalization of the place of arbitration; additions to the provisions on extraordinary arbitration and the procedure for accelerated production. The new Arbitration Rules came into force on January 1, 2016 and proved itself from the very best side. The statistics of the SIAC Center for 2016 were unprecedented.Conclusions and Relevance: the materials presented in the article show the special role of arbitration in resolving domestic and international financial disputes. The practical application of its results will improve the Russian legislation in the field of resolving financial disputes. |
| format | Article |
| id | doaj-art-c22c32d2510a4ed49ce78286a6888523 |
| institution | Kabale University |
| issn | 2079-4665 2411-796X |
| language | Russian |
| publishDate | 2017-10-01 |
| publisher | Nauka |
| record_format | Article |
| series | Модернизация, инновация, развитие |
| spelling | doaj-art-c22c32d2510a4ed49ce78286a68885232025-08-20T03:56:28ZrusNaukaМодернизация, инновация, развитие2079-46652411-796X2017-10-018342442910.18184/2079-4665.2017.8.3.424-429751Singapore Financial System: Financial Disputes in Commercial ArbitrationEkaterina P. Rusakova0Peoples Friendship University of RussiaPurpose: the article examines the main problems associated with the extension of arbitration of domestic and international financial disputes in Singapore. The characteristics of the development of international commercial arbitration in Singapore, including the role of the Singapore International Arbitration Center SIAC, examined the new SIAC Arbitration Rules - the Arbitration Rules of 2016 and the Investment Arbitration Rules of 2017, as well as the Arbitration Regulations of the Singapore Exchange 2006 and the Arbitration Rules Singapore Exchange on the Derivatives Trade 2005. In order to achieve this goal, the article must solve the following tasks: to determine whether there are institutions providing services in Singapore and on the arbitration of financial disputes; to study the main problems of transferring a cross-border financial dispute to international arbitration; to study the practice of international arbitration on this issue.Methods: this article is based on an interdisciplinary concept of research, which allowed to distinguish the distinctive features of the legal regulation of the settlement of financial disputes in Singapore.Results: the provisions of the Arbitration Rules of 2016 and the Investment Arbitration Rules of 2017 are innovative not only for the SIAC Center, but for all international commercial arbitration as a whole. The new regulations of the SIAC Center enshrined provisions for the consolidation of arbitral proceedings in disputes from two or more treaties; on attracting additional parties; the refusal of claims or objections at an early stage if the claim or objection is manifestly unfounded from a legal point of view or the claim / objection is obviously beyond the jurisdiction of the Arbitration Tribunal; on delocalization of the place of arbitration; additions to the provisions on extraordinary arbitration and the procedure for accelerated production. The new Arbitration Rules came into force on January 1, 2016 and proved itself from the very best side. The statistics of the SIAC Center for 2016 were unprecedented.Conclusions and Relevance: the materials presented in the article show the special role of arbitration in resolving domestic and international financial disputes. The practical application of its results will improve the Russian legislation in the field of resolving financial disputes.https://www.mir-nayka.com/jour/article/view/762singapore lawarbitration in singaporesiacinvestment arbitrationfinancial arbitrationexchange arbitrage |
| spellingShingle | Ekaterina P. Rusakova Singapore Financial System: Financial Disputes in Commercial Arbitration Модернизация, инновация, развитие singapore law arbitration in singapore siac investment arbitration financial arbitration exchange arbitrage |
| title | Singapore Financial System: Financial Disputes in Commercial Arbitration |
| title_full | Singapore Financial System: Financial Disputes in Commercial Arbitration |
| title_fullStr | Singapore Financial System: Financial Disputes in Commercial Arbitration |
| title_full_unstemmed | Singapore Financial System: Financial Disputes in Commercial Arbitration |
| title_short | Singapore Financial System: Financial Disputes in Commercial Arbitration |
| title_sort | singapore financial system financial disputes in commercial arbitration |
| topic | singapore law arbitration in singapore siac investment arbitration financial arbitration exchange arbitrage |
| url | https://www.mir-nayka.com/jour/article/view/762 |
| work_keys_str_mv | AT ekaterinaprusakova singaporefinancialsystemfinancialdisputesincommercialarbitration |