Philipp Mark has been an important member of the CMS Banking & Capital Markets team for many years and is now continuing his journey as a partner in the international commercial law firm. The expansion of the advisory practice in the area of Capital Markets & Regulatory - especially around the topic of payment services (PSD2) - is a top priority for the expert who is particularly specialised in this area.
In his more than 10 years at CMS, Philipp Mark has advised Austrian and internationally active banks, MiFID firms, payment and e-money institutions as well as various other companies, including numerous high-profile mandates, on corporate and regulatory aspects. His core areas also include, above all, advising on EU-wide regulatory initiatives and requirements in connection with payment services. This is an absolute growth market that will continue to be of great importance in the future.
"The new EU Payment Services Directive PSD2 is far from the end of the line. It can be assumed that the legal framework will undergo another change in the coming years," says Philipp Mark. "Initiatives to standardise European payment system promote innovation and increase competition, but will also bring with them even stricter rules in terms of security."
Other areas on which Philipp Mark has increasingly focused in recent years are alternative forms of financing. For example, he advised companies seeking capital on requirements in connection with the prospectus obligation and licensing requirements under various supervisory laws.
Philipp Mark is involved in numerous internal working groups at CMS. In addition to the Payment Service Sub-Group, he is also involved in the Funds Group and equIP, a CMS programme to support tech start-ups. As a so-called Sustainability Champion, the Carinthian-born lawyer is also committed to further developing the topic of sustainability within the specialist group of banking and capital markets law.
Philipp Mark started as a trainee lawyer at CMS in Vienna in 2010, where he was promoted to lawyer in 2013. He completed his law studies and postgraduate studies at the University of Vienna.
