International Business Transactions
In October 2018, the Financial Action Task Force (FATF), an intergovernmental organization in charge of anti-money laundering (AML) and counter-terrorist financing regulations, announced that it would issue guidelines on virtual asset by June 2019. A virtual asset is a digital representation of value that can be traded, transferred, or used for payment or investment purposes, which does not have the status of legal tender in any jurisdiction.
Third-party litigation funding (TPF) is a rapidly expanding industry composed of speculative investors who finance legal claims in exchange for influence over case management and a contingency in the recovery. The potentially high damage awards (recently averaging $500 million per dispute) characteristic of investor-state arbitration (ISDS) under the bilateral investment treaty (BIT) regime have made it a new and highly attractive market for TPF.