ICSID Member States approve long-awaited update to ICSID rules and regulations.

On 21 March 2022, the International Centre for Settlement of Investment Disputes (ICSID) Member States approved a long-awaited update to the ICSID rules and regulations, concluding perhaps the most extensive amendment process in ICSID’s 56-year history. The amendments will come into effect on 1 July 2022 and will apply to arbitrations commenced from that date onwards.