Depending on context and content, a regulatory framework can either help or hinder efforts to enhance aggregate social and economic welfare. Lively debate has arisen with respect to the net effects of two recent sets of directives for lawyer comportment in cross-border arbitration: the guidelines adopted by the International Bar Association and the new arbitration rules promulgated by the London Court of International Arbitration. Each instrument aims to promote a more level playing field on matters where legal cultures differ, such as document production and counsel independence. Each has caused thoughtful commentators to question the need and the merits of such standards. For now, suspense surrounds the prospect that either set of provisions will find favor in the international community. Only time will tell.
A Fair Fight: Professional Guidelines in International Arbitration,
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