Data protection and cybersecurity are hot topics in international arbitration and international surveys demonstrate that users of arbitration are concerned about data security. While there are signs that the market is listening, users seem to think that institutions, counsel and tribunals could do more to address cybersecurity. As these issues become more common, it is hoped that consistent practices will emerge to reassure users that their data will be secure.
In 2018 the Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 (known as the New York Convention) will celebrate its 60th anniversary. The New York Convention governs two fundamental aspects of international arbitration – namely, how states will treat arbitration agreements and arbitral awards that were made in other jurisdictions. There are 157 contracting states to the convention, which creates an almost universal regime governing these two important issues.
Arbitral institutions are constantly seeking to update their rules to keep in line with existing trends and to distinguish themselves among their peers. In early 2017 new or amended rules came into force for three of the most prominent global arbitral institutions. Important changes include the introduction of expedited procedures in International Chamber of Commerce and Stockholm Chamber of Commerce arbitrations and new Singapore International Arbitration Centre rules for investment arbitrations.