Financial courts

Since the Financial Services Act will be a comprehensive legal code which mixes both administrative and civil law and due to the social role of the financial sector, it might be desirable to establish special courts for lawsuits involving financial matters.

The judges of these financial courts will be trained both in law and economics. Their jurisdiction will be all cases which involve financial institutions. These might be conflicts between financial institutions but also between financial institutions and their clients.

The procedures in financial courts will be similar to those followed by civil and administrative courts. This will include the possibility of appeal to an appellate court.

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