Ethical Regime of International Arbitration
摘要
This chapter discusses the international arbitration’s self-regulatory mechanism and argues that the ethical issues identified in the previous chapter can be addressed within this mechanism. This chapter contends that the self-regulatory mechanisms of international arbitration can ensure that the sources of ethical obligations of arbitrators and lawyers can be effectively implemented by the institution and/or the arbitral tribunal in the arbitral proceedings. This is because members of the international arbitration community have an incentive to ensure the integrity and professional conduct of their participants on the one hand, while, on the other, arbitral institutions and/or tribunals can enforce the ethical rules and standards developed by members of the international arbitration community in the arbitral process. On this basis, it argues that the ethical issues in relation to third-party funding can be addressed in the procedural regime of international arbitration and its attached self-regulatory ethical regime, which treat arbitrators, lawyers and funders as interdependent participants within a shared ethical ecosystem, by interpreting, refining and adapting existing sources of arbitral legal authorities and by introducing external regulation for the conduct of funders. In the meantime, the self-regulation of international arbitration does not exclude national authorities from playing a backup role to facilitate the operation of this mechanism. National authorities may therefore help to ensure that the funded party’s retained lawyers comply with general ethical obligations and introduce the appropriate regulation of third-party funders, which are matters that are beyond the reach of the self-regulatory mechanism of international arbitration.