Embracing Arbitration For Australian Financial Services Disputes

In the world of financial services arbitration is increasingly being embraced as a flexible, efficient, and private way to resolve disputes. In Australia, uptake has been slower but for certain types of financial services disputes, arbitration provides a fast, confidential and efficient alternative which financial institutions need to consider.

A global shift towards arbitration in financial services

Historically, financial institutions have favoured courts for dispute resolution, gravitating to the specialist financial lists of London, New York and, in the domestic context, the Commercial List of the NSW Supreme Court. These preferences have been attributed to a perception that these institutions provide greater legal certainty than arbitration.