1.9. Trans-Border E-Document Exchange: Drivers and Challenges

Tuesday, May 18
13:45 - 15:00

Channel 1
BROADCAST
Open Access Live Stream

Track: 1. Smart Society
Discussion session

{logo}

«Gazprombank» (Joint – stock Company)is one of the largest multi-faceted financial institutions in Russia, providing a wide range of banking, financial, investment products and services to corporate and private customers, financial institutions, institutional and private investors. The Bank is one of the three largest banks in Russia by all major indicators and ranks third in the list of banks in Central and Eastern Europe in terms of equity.

The bank provides services to key sectors of the Russian economy – gas, oil, nuclear, chemical and petrochemical, ferrous and nonferrous metallurgy, electric power industry, engineering and metalworking, transport, construction, communications, agriculture, trade and other industries.

Retail business is also a strategically important activity of the Bank, and its scale is consistently increasing. Private customers are offered a full range of services: credit programs, deposits, payment transactions, electronic bank cards, etc.

Gazprombank has a strong position on national and global financial markets, holding Russian leadership in arranging and underwriting corporate bond issues, asset management, private banking, corporate financing, and other areas of investment banking.

The Bank’s customers number about 5 mln individuals and about 45,000 legal entities.

www.gazprombank.ru/eng/

One of the numerous aspects of business life highlighted by the pandemic was entering into legally binding transactions and exchanging legal documents remotely in electronic form. Until recently, the task was not straightforward even within one jurisdiction and was even more difficult when it comes to concluding cross-border transactions. By the beginning of the pandemic, certain legislation recognizing the electronic form of documents, electronic signatures, etc. was already adopted in most jurisdictions globally.  Due to the efforts of international institutions, this legislation often sets forth relatively similar regulations which allows the global market participants to introduce certain electronic document exchange systems that satisfy their needs in some areas, such as internal corporate document exchange, retail transactions or commercial procurement contracts. These usually are situations where it is unlikely that the action or transaction is not legally recognized, when its legal defects can be easily remedied, or when the 'price' of such flaws is not high. However, it turned out that the existing national regulation does not always provide secure ways to switch into the paper-less form for large and complex cross-border transactions requiring a high level of legal certainty and reliability. The parties to such transactions who tried to switch from the wet-ink paper form and personal presence under the pressure of sanitary and epidemiological restrictions faced numerous questions:

  • How to ensure that the person who signed the document 'on the other end of the line' has actually duly executed it? Who and under what rules should identify this person?
  • What is the legal effect of the electronic signature used by the counterparty? How can the electronic signature be verified?
  • Is it possible to submit electronic documents signed by counterparties from different to state registers or notaries of the jurisdiction where such state registration, notarization or other legalization is required for legal perfection?
  • And finally, will a party be able to enforce the terms of a transaction entered into in electronic form in the jurisdiction where such enforcement is necessary?

The current regulation of these issues at the national level is very fragmented and not harmonized, and, with the exception of rare cases of regional integration (such as eIDAS), cross-border recognition of electronic documents and signatures does not work in practice. Our experts will discuss these problems and will aim to articulate possible solutions to these problems to help the global business.

Moderator

Elena Borisenko

Deputy Chairman of the Board of Management, Gazprombank JSC

Speakers

Anton Didenko

Lecturer at the Faculty of Law and Justice, University of New South Wales, Sydney, Australia

Biography

Anton is a Lecturer at the Faculty of Law and Justice of the University of New South Wales (UNSW Sydney, Australia) specialising in banking and finance law, with a focus on FinTech, RegTech and cybersecurity. He is a Russian qualified lawyer with over 10 years of experience as in-house counsel for major commercial banks in Moscow and as senior associate at a law firm in London.

His experience covers advising on banking regulations and legislation applicable to financial intermediaries, as well as a wide range of financing transactions. Anton also specialises in the area of secured transactions law and transnational commercial law: he is the author of a monograph on the documentary history of the Cape Town Convention on International Interests in Mobile Equipment (Hart, 2021) and the general editor of the Cape Town Convention Journal.

Anton holds several law degrees from Russia and the UK, including a Doctor of Philosophy degree from the University of Oxford.

Daniil Egorov

Head of the Federal Tax Service of Russia

Anna Joubin-Bret

Secretary, United Nations Commission on International Trade Law, Russian Federation

Biography

Anna Joubin-Bret is the Secretary of the United Nations Commission on International Trade Law and Director of the Division on International Trade Law in the Office of Legal Affairs of the United Nations
She has been appointed on 24 November 2017.

Prior to her appointment, Mrs. Joubin-Bret was Attorney-at-law and practiced in Paris. She specialized in International Investment Law and Investment Dispute Resolution. She focused on serving as counsel, arbitrator, mediator and conciliator in international investment disputes. She served as arbitrator in several ICSID, UNCITRAL and ICC disputes. Prior to 2011 and for 15 years, Anna was the Senior Legal Adviser for the United Nations Conference on Trade and Development (UNCTAD). In this capacity, she managed the research and advisory work on international investment law issues as well as the technical assistance program on international investment agreements (IIAs). During her tenure, Anna assisted countries and governments in the formulation of investment policies and frameworks and the management of investor-State disputes. Anna has edited and authored seminal research and publications on international investment law, notably the Sequels to UNCTAD IIA Series. She co-edited with Jean Kalicki a book on Reform of Investor-State Dispute Settlement in 2015. She lectures on international investment law in various universities and institutes all over the world. She holds a post-graduate degree (DEA) in Private International Law from the University of Paris I, Panthéon-Sorbonne, a Masters Degree in International Economic Law from University Paris I and in Political Science from Institut d'Etudes Politiques. She has been Legal Counsel in the legal department of the Schneider Group, General Counsel of the KIS Group and Director-Export of Pomagalski S.A. She has been appointed judge at the Commercial Court in Grenoble (France) and was elected Regional Counsellor of the Rhône-Alpes Region in 1998.

Charles Kerrigan

Partner in the Banking & International Finance Team, CMS London


* The Programme may be subject to change