Part V Legal and Conduct Risk in Interconnected Financial Markets, 18 The Role of International Institutions in Financial Law Reform
Roger Mccormick, Chris Stears
Roger McCormick, Chris Stears
- International financial system — International monetary conduct
This chapter focuses on United Nations Commission on International Trade Law (UNCITRAL), the International Institute for the Unification of Private Law (UNIDROIT) and the European Bank for Reconstruction and Development (EBRD). UNCITRAL was created in 1966 by a resolution of the United Nations General Assembly. It was given a general mandate to further the progressive harmonization and unification of international trade law and regards itself as ‘the core legal body of the United Nations system in the field of international trade law’. UNIDROIT is an independent inter-governmental organization with 63 member states. The purposes of UNIDROIT are to ‘examine ways of harmonising and coordinating the private law of States and groups of States, and to prepare gradually for the adoption by the States of uniform rules of private law’. The EBRD is an international financial institution that supports projects in more than 30 countries to promote transition to a market economy.