UNIDROIT Holds Centenary Financial Markets and Technology Workstream Workshop

On 11 September 2026, UNIDROIT held a Workshop on Financial Markets and Technology at its Headquarters in Rome, in the context of its Centenary celebrations. The aim of the Workshop was to discuss and gain feedback on a draft White Paper prepared by the Committee for the Centenary Workstream on Financial Markets and Technology (FMT Committee), examining UNIDROIT’s past and ongoing work in this field and identifying potential areas for future work.

The Workshop was organised within the framework of the 2026 edition of the International Programme for Law and Development (IPLD) for the Balkans, Eastern Partnership, Central Asia, and the Caucasus (BEPCAC). In addition to the legal experts from the BEPCAC region participating in the IPLD, the Workshop brought together members of the FMT Committee and invited experts from academia and legal practice, as well as stakeholders.

The Workshop was opened by Professor Ignacio Tirado, Secretary-General of UNIDROIT. Professor Charles W. Mooney Jr (University of Pennsylvania) then introduced the work of the FMT Committee and the draft White Paper, on behalf of the Chair of the FMT Committee, Professor Janis Sarra (University of British Columbia, Canada).

The Workshop was organised around four thematic panels.

The first panel, chaired by Professor Tirado, focused on navigating modern securities markets, with presentations by Professor Mooney and Professor Matthias Lehmann (University of Vienna). Against the backdrop of developments in contemporary securities markets, discussions examined the continuing relevance of UNIDROIT’s instruments on intermediated securities and close-out netting, their implementation and practical application across jurisdictions, and their contribution to legal certainty, market efficiency and financial stability. Participants also considered whether market and legal developments may warrant further guidance or development of the existing framework.

The second panel, chaired by Ms Myrte Thijssen, UNIDROIT Senior Legal Officer, turned to UNIDROIT’s work on financial institutions and insolvency, with presentations by Ms Elsie Addo Awadzi (former Second Deputy Governor, Bank of Ghana) and Professor Matthias Haentjens (Leiden University). The discussions examined the role of the UNIDROIT Legislative Guide on Bank Liquidation in strengthening frameworks for the orderly liquidation of banks, including strategies to support its implementation and maximise its practical impact. The panel then considered the specificities of the insolvency of insurance enterprises, the subject of a new project in the Institute’s 2026-2028 Work Programme, as well as directions for possible future work in this area.

The third panel, chaired by Dr Theodora Kostoula, UNIDROIT Legal Consultant, explored financial markets and digitalisation, with presentations by Professor Louise Gullifer (University of Cambridge), Professor Matthias Haentjens and Professor Risham Garg (National Law University Delhi, India). Discussions considered how digitalisation and technological innovation are reshaping financial markets and the private law frameworks that underpin them. Particular attention was given to the UNIDROIT Principles on Digital Assets and Private Law, including their implementation and the potential for convergence between common and civil law jurisdictions. The panel also examined possible recommendations on a new UNIDROIT project concerning the Regulation of Digital Risks through Civil Liability, focusing on the role of private law in responding to emerging digital risks.

The fourth panel, chaired by Ms Giulia Previti, UNIDROIT Legal Officer, broadened the discussion to sustainability and other emerging developments in financial markets, with contributions from Professor Andrea Tosato (SMU Dedman School of Law), Professor Louise Gullifer, Professor Matthias Lehmann, and Ms Addo Awadzi. Discussions addressed the ongoing development of UNIDROIT Principles on the Legal Nature of Verified Carbon Credits, as well as the broader need for coordination between private law and financial regulation. Looking further ahead, participants considered the evolution of financial markets, investment-based crowdfunding and other emerging trends identified in the draft White Paper, with a view to identifying potential areas for future UNIDROIT work.

Following each panel, participants attending both in person and online engaged in lively discussions, drawing on perspectives from different jurisdictions, legal traditions, academia and legal practice. The discussions provided the Committee with valuable questions, comments and recommendations on the draft White Paper.

Following the Workshop, the FMT Committee will continue its work on the White Paper, taking into account the discussions and feedback received from participants. The White Paper will be submitted to the joint session of UNIDROIT’s Governing Council and General Assembly in December 2026.

 

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