TPP Financial Services Chapter Opens Door To Broader ISDS Claims

Updated: The Trans-Pacific Partnership (TPP) chapter on financial services gives private firms in that sector broader grounds to sue member governments than previous U.S. free trade agreements by incorporating obligations for parties to accord a "minimum standard of treatment" to financial services investments and subjecting that commitment to investor-state dispute settlement (ISDS). Previous U.S. free trade agreements have allowed financial services firms to bring certain limited ISDS claims, but not for a breach of the minimum standard of...