Tentative Suggestions on the Establishment of the Third Party Financial Arbitration System

Purpose/Significance The application of information technology drives the continuous reform of my country's finance, and financial innovation also makes financial arbitration face greater challenges. Existing financial arbitration hardly involves the rights and interests of third parties, and arbitration institutions have no right to add third parties that may affect their legal rights and interests in financial disputes, which seriously damages the legal rights and interests of third parties. Design/Methodology After exploring the background of the problem and comparing and analyzing the status quo, it is found that the existing legislation and judicial practice of financial arbitration in my country all hold a negative attitude towards the third party’s participation in arbitration. Under the premise that the existing remedies cannot effectively protect rights, from the perspective of interest balance, the third party of financial arbitration should be granted the status of the third party and have the right to file a revocation and enforcement of the objection. Findings/Conclusions The establishment of a restricted third party financial arbitration system will protect its legitimate rights and interests reasonably.