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About
Philipp Paech is an Associate Professor of Law at LSE and has been an educator, researcher, and policy consultant specialising in the regulation and law of financial services for over 20 years. Since 2017, he has focused on the regulation of Digital Finance. He served as the chair of the EU Commission expert group on FinTech (‘ROFIEG’), and the group's recommendations became a foundational document for the EU Digital Finance Strategy.
Philipp teaches and conducts research at the London School of Economics and Political Science, where his educational portfolio includes various master's and executive courses in International Financial Regulation and International Financial Law. He also convenes five different executive master courses, covering the law and policy of financial markets, including digital financial services. He convenes and co-teaches a very popular co-curricular Digital Finance Course for all Masters and Bachelor students at LSE Law School.
Philipp has been appointed a Distinguished Global Professor of Law at Notre Dame University and a Visiting Professor at the Institute for Law and Finance of Frankfurt University. He previously held visiting appointments at the European University Institute (EUI) in Florence, Bocconi University in Milan, and Tokyo University. He is an attorney-at-law in Frankfurt and an accredited mediator in the UK.
Dr Paech consults for public sector and international governmental organisations, including the OECD, the UK Foreign Office, the European Commission, the European Central Bank, and the European Parliament. He has been a member of several international expert groups. His contributions have been instrumental in influencing legal and regulatory reforms for nearly two decades.
Research
Research Interests
Philipp specialises in the public and private law of financial markets. His original focus was on the antagonistic relationship between risk and liquidity, with an emphasis on legal risk management through legal devices within financial institutions and the international compatibility of legal and regulatory regimes.
Since becoming chair of the EU Expert Group on Regulatory Obstacles to Financial Innovation in 2018, Philipp's research interest has shifted towards the systemic and societal implications of the digitalisation and datafication of the financial market, increasingly focusing on consumer welfare. This shift is driven by his insight into how consumers’ agency and autonomy are progressively limited by the merging of financial services and the data economy.
Publications
- 'MiCAR Scope and Key Terms' in Louise Gullifer et al, Markets in Crypto-Assets Regulation: Law and Technology (Hart Publishing, 2025) Chapter 3
- 'Typology of Crypto-Assets' in Louise Gullifer et al, Markets in Crypto-Assets Regulation: Law and Technology (Hart Publishing, 2025) Chapter 4
- 'Insolvency Safe Harbours, Financial Regulation and the Mitigation of Systemic Risk' in David Donald, Hendrik Haag and Philipp Paech (eds), Nationales und Internationales Gesellschafts- und Kapitalmarktrecht (CH Beck, 2024)
- 'Mediation of Financial Disputes' in C Titi and K Fach, Mediation in International Commercial and Investment Disputes (Oxford University Press, 2019), with I. Forestieri
- 'Conflict of Laws and Relational Rights' in L Gullifer and J Payne, Intermediation and Beyond (Hart, 2019)
- 'Market Needs as Paradigm - Breaking up the thinking on EU Securities Law' in P.H. Conac, J. Thévenoz and U. Segna, Intermediated Securities (Cambridge University Press, 2013)
- Commentary on the Geneva Securities Convention, Article 1(d), Article 1(n) (with K Löber), Article 1(o) (with K Löber), Article 1(p), (with K Löber), Article 4, Article 6, Article 22, Article 27 (with K Löber), in H Kanda, L Thévenoz and CW Mooney (eds.), Official Commentary on the Geneva Securities Convention (Oxford University Press, 2012)
- 'New Regulations or Novel Regulation – The Folly of Hybrid Laws' Revue Banque & Droit 2024(2)
- 'The Value of Insolvency Safe Harbours' (2016) The Oxford Journal of Legal Studies 36(4), 855-884
- 'The Governance of Blockchain Financial Networks' The Modern Law Review 80(6) (2017), 1073-1110
- 'Securities, Intermediation and the Blockchain – An Inevitable Choice between Liquidity and Legal Certainty?' (2016) Uniform Law Review 21(4), 612-639
- 'Conflict of Laws, Close-out Netting and Insolvency' (2014) Journal of Corporate Law Studies 14, 419-452
- 'The Enforceability of Close-out Netting' (2013) Journal of International Banking and Financial Law 28(1) 13-19
- 'Netting, Finanzmarktstabilität und Bankenrestrukturierung' (2010) WM Zeitschrift für Wirtschafts- und Bankrecht 64(42), 1965-1971
- 'EU Post Trading, the 'Barriers' and Harmonisation of Law' (2006) Euredia 19(3-4), 279-307
- 30 Recommendations on Regulation, Innovation and Finance, December 2019, principal author, commissioned by the European Commission
- A financial regulatory regime reform template to ensure financial stability for the Chinese economy, 2017-2018, with K Yuan, D Lou, H Zhou, funded by the UK Foreign and Commonwealth Office
- Shadow banking – Legal issues of collateral assets and insolvency law, 2013; funded by the ECON Committee of the European Parliament
- Directors’ Duties and Liability, 2011 to 2013, with C Gerner-Beuerle and E Schuster and the participation of researchers in 28 EU Member States; funded by the European Commission
- Draft Principles regarding the enforceability of close-out netting provisions,2012, commissioned by UNIDROIT
- The need for an international instrument on the enforceability of close-out netting in general and in the context of bank resolution, 2011, commissioned by UNIDROIT
- Cross-border issues of securities law, 2011, funded by the ECON Committee of the European Parliament
- EU Legal Certainty Group: Solutions to legal barriers related to post-trading, 2008, principal author, study conducted as secretary to the European Commission DG FISMA Legal Certainty Group, not currently available online.
- Group of Thirty, Final Monitoring Report on the Global Clearing and Settlement Project, Report of the Legal Subcommittee of the Global Clearing and Settlement Project, 33-46 (2006), principal author
- 'The (un-)certainty of holding assets as tokens' LSE Law Legal Studies Working Paper Series 7/2025
- 'The axioms of EU crypto-asset regulation' LSE Law Legal Studies Working Paper Series 5/2025
- 'New regulations or novel regulation for crypto-assets and DeFI – the folly of hybrid laws' conference paper presented at LSE (2023)
- The International Law of Crypto-Asset Settlement – Functional Analysis and Draft Principles conference paper presented at UNIDROIT (2019)
- 'Repos and Derivatives Portfolios between Insolvency Law and Regulation' LSE Law, Society and Economy Working Papers 13/2017
- 'Systemic Risk, Regulatory Powers and Insolvency Law' (2010), Institute for Law and Finance, University of Frankfurt Working Paper Series No 116
- 'Cross-border Bank Resolution' conference paper presented at British Institute for International and Comparative Law (2014),
- 'Post Trading of Securities: The European Response to Barriers' (2009) Journal of International Banking and Financial law (24)4, 211-214, with K. Löber
- 'Interconnecting Law of Securities Holding and Transfer' (2007) Journal of International Banking and Financial Law 22(1) 9-15, with K. Löber
Teaching
Teaching
LL406E Regulation of Financial Markets I
LL407E Regulation of Financial Markets II
LL410E International Financial Law and Practice I
LL411E International Financial Law and Practice II
LL4BF International Financial Regulation
LL4H4 International Financial Law
Executive Short Course on Global Financial Regulation
Executive Short Course on Regulating Digitalisation and Datafication of the Financial Market