This chapter focuses on the regulation of third-party funders. It examines the existing national regulatory regimes for third-party funding in England and Wales, Hong Kong, Singapore and the EU. On this basis, this chapter finds that the formulation of the professional standards for funders is a core component of the national regulatory regimes, and the common challenge for all is to ensure that they can be effectively implemented in practice. The appropriate regulation for third-party funders is related to the fulfilment of the professional obligations of arbitrators and lawyers, the protection of the interest of the funded party and the fairness and integrity of arbitral proceedings. This chapter argues that the statutory regulation of funders will be the way forward, and until it comes into being, third-party funding will be subject to self-regulation for some time to come with respect to the implementation of professional standards or ethical rules for funders. In this regard, this chapter has provided recommendations on ‘professional standards’ for the conduct of funders and for the drafting of the content of the funding agreement. Furthermore, in order to encourage and facilitate voluntary compliance with these guidelines by funders, this chapter proposes to resort to a market-based solution to drive the funders to embrace the higher standards of professionalism and expertise associated with market leaders.