7 June 2016: ILF Guest Lecture on "International Legal Principles for Crypto-Securities and Blockchain Settlement"


ILF Guest Lecture on Tuesday, 7 June 2016, 19:30
International Legal Principles for Crypto-Securities and Blockchain Settlement

Philipp Paech (Assistant Professor, London School of Economics) – Presentation
Marc Robert-Nicoud (CEO, Clearstream) – Discutant
Klaus Löber (Senior Advisor, European Central Bank) – Discutant
Peter von Wilmowsky (Professor, University of Frankfurt) – Chair
  

19:30 – Presentation and Panel Discussion (Room DZ Bank, House of Finance)
21:00 – Drinks and Finger-food Reception (Faculty Lounge, House of Finance)

 

Please register here:
http://anmeldung.ilf-frankfurt.de


Blockchain technology is widely regarded as being state-of-the-art fail-safe. Therefore, the question of enforceability of blockchain-based securities transactions has not attracted much attention so far. Transaction- and technology focussed minds might even be frightened by the idea of a judicial review of highly integrated IT processes that involve entire networks. Still, at least where third-party rights are at stake, in particular in case of insolvency, courts need to be able to provide a clear answer regarding ‘who owns what’. However, the complexity of the acquisition process is not the only challenge lawmakers will find. As a second element, the difficulty of reversing transactions de facto or applying elements of discretion or judgement will pose a significant difficulty. Lastly, domestic law will be unable to govern a truly globalised environment for blockchain securities transactions, entailing the question of how to determine the relevant law and of international standards in this regard.

At the occasion of this evening lecture, a set of draft principles designed to inspire a future work on a legal framework will be presented and discussed from the vantage point of the post-trade industry and from the regulatory perspective.

After the lecture the ILF requests the pleasure of your company for a reception at the Faculty Lounge of the House of Finance (light food served).

This is the second of two events on securities and blockchain technology hosted by the ILF. Information on the first event can be found here:

http://www.ilf-frankfurt.de/seminars/conference-materials/


Dr Philipp Paech joined the LSE in 2010 as an Assistant Professor of Financial Law and Financial Regulation. He is the Director of the LSE’s Law and Financial Markets Project and a research fellow at the Institute for Law and Finance in Frankfurt. Before joining the LSE, Philipp spent a number of years at the heart of international legal and regulatory reform of the financial sector, working from 2007-2010 for the European Commission’s directorate for financial services in Brussels and from 2002-2006 for UNIDROIT in Rome. Philipp holds a doctorate from the University of Bonn and obtained the Diploma of EU Studies from the University of Toulouse. He is a qualified lawyer admitted to the Bar of Frankfurt.

Mr Marc Robert-Nicoud is CEO of Clearstream Holding AG and Clearstream International SA and heads Core Markets Development with responsibility to manage the Executive Office, the Product Strategy and Marketing, Revenue Planning as well as Controls. The Compliance, Risk Management and Internal Audit functions of Clearstream also report to Marc. Marc joined Deutsche Börse Group in 2006 as a legal counsel and has since fulfilled different roles with a focus on the post-trade services offered by Clearstream, a wholly owned company of Deutsche Börse AG. In particular, Marc acted as Eurobond market manager, head of marketing and program manager in charge of strategy execution. Previously, Marc was a legal officer at the Swiss Financial Market Supervisory Authority (FINMA) and started his career as an associate with the law firm of Cleary, Gottlieb, Steen & Hamilton. Marc is a member of the New York State Bar and the Quebec Bar. Marc is a common law (LL.B.) and civil law (B.C.L) graduate of McGill University in Montreal, Canada. Marc has also completed the Executive Program of the Swiss Finance Institute.

Mr Klaus Martin Löber is Senior Adviser in the Directorate General Market Infrastructures and Payments of the European Central Bank. His responsibilities include G20 and global standard setter activities in the area of financial market infrastructures and payments and related regulatory and policy work. Until end of April 2016, he was the Head of the Secretariat of the Committee on Payments and Market Infrastructures (CPMI) hosted by the Bank for International Settlements. Prior to this, Mr Löber was Head of the Oversight Division of the European Central Bank and Chair of the ESCB Working Group on Oversight. Earlier work practice includes the European Commission, Deutsche Bundesbank and private practice. Mr Löber is regularly publishing on financial markets legal, regulatory and infrastructure issues.

Prof Dr Peter von Wilmowsky, LL.M (Berkeley) is a Professor at Goethe-University Frankfurt am Main, Germany. He holds the chair for Civil Law, Insolvency Law and European and International Commercial Law. Recent publications cover contracts in insolvency law, his current research focuses on derivatives in insolvency law.  

 

Location:
Room “DZ Bank”, House of Finance (ground floor)
Goethe-University
Campus Westend
Theodor-W.-Adorno-Platz 3,
60323 Frankfurt am Main