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Portrait of Walter Gapp

Walter Gapp

Partner
Attorney-at-law for capital market law

CMS Reich-Rohrwig Hainz
Rechtsanwälte GmbH
Gauermanngasse 2
1010 Vienna
Austria
Languages German, English, French

Specialization in capital markets law, financial market regulation

Walter Gapp is an attorney-at-law who has specialized for many years in the fields of capital markets law and financial market regulation. He regularly advises on preparing issuance programmes as well as  bonds issuanceand regulatory capital instruments. He also focuses on the structuring and support of securitization transactions, new business models proposed by financial service providers, as well as giving comprehensive regulatory advice to banks, insurance companies and securities firms.

Sectors

His clients include Austrian issuers, Austrian and international investment banks, commercial banks, insurance companies and securities firms, domestic and foreign funds as well as buyers and sellers of receivables.

Lecturing

Walter Gapp lectures on securitizations as part of the LL.M. in Banking and Financial Market Law programme at the University of Liechtenstein.

Ranking

Walter Gapp is repeatedly mentioned as a leading lawyer in the field of capital markets law and banking regulation, he has been described as "highly regarded" (IFLR 1000) and placed on the list of "best lawyers (banking and finance law)" (Handelsblatt 2019).

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Memberships & Roles

  • Austrian Society for Bank Research
  • Vienna Bar
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Publications

  • Cross-border banking transactions without a domestic branch - Points of reference and licensing requirements, ecolex 2003/4
  • Deposit insurance design - Deposit insurance in Austria and international best practice, ÖBA 2003/10
  • Innovative Tier I - The issue of hybrid financial instruments under the Austrian Banking Act, ÖBA 2005/1 
  • Internal governance for credit institutions and investment firms - Organisational requirements under Basel II, ÖBA 2007/3
  • Transparency obligations under MiFID, ecolex 2007/4
  • New legal framework for commodity derivatives, ecolex 2008/1After Basel II: Reform of the definition of own funds? - Current legal issues and trends, ZFR 2008/1
  • Payment Services Act I: Supervisory law: licensing requirements, own funds, internal organization, ZFR 2009/5
  • Payment Services Act II: Information obligations, framework contract and payment transactions, ZFR 2009/5
  • New CET1 instrument. From participation capital to 'bank shares' and back? - A first assessment, ZFR 2013/7
  • Chapter on Austria in Zerey, Financial Derivatives 2013
  • Chapter on Securitization in Dellinger/Blume, CRR 2019
  • Payment moratoria under COVID-19 legislation - Impact on securitisation structures - EBA clarification, CMS Law-Now, 2020
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Education

  • 1999-2000: Universities of Geneva and Lausanne (LL.M., Droit Européen et Droit International Économique)
  • 1997-1998: University of Geneva (Annual Scholarship of the Swiss Confederation).
  • 1994-1995: Institut Supérieur de Traducteurs et Interprètes ISTI, Brussels.
  • 1992-1999: University of Innsbruck (Mag. phil., translation studies French/English)
  • 1992-1998: University of Innsbruck (Mag. iur., legal studies)
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14/12/2020
CMS ad­vises bank­ing syn­dic­ate on the is­su­ance of EUR 750,000,000 Ad­di­tion­al...
CMS ad­vised an in­ter­na­tion­al bank­ing syn­dic­ate com­pris­ing BofA Se­cur­it­ies, BNP Pari­bas, Er­ste Group, Gold­man Sachs In­ter­na­tion­al, JP Mor­gan and UBS as Joint Lead Man­agers on the suc­cess­ful is­su­ance of...
25 November 2020
Pop­u­lar in­vest­ment vehicles in Aus­tria
In­vest­ment vehicle Real es­tate in­vest­ment fund (Im­moIn­vF) 1. Form Con­trac­tu­al 2. Tax Treat­ment Ex­empt at fund levelTax at in­vestor level­Gains from sale/dis­pos­al of fund units tax­able at in­vestor level­Double...
Comparable
21/10/2020
BRRD II – a cap­it­al view: M-MDA, cred­it­or hier­archy and selling eli­gible...
On 13 Oc­to­ber 2020, Aus­tri­an draft le­gis­la­tion im­ple­ment­ing BRRD II was pub­lished. The draft pro­posed by the Aus­tri­an Min­istry of Fin­ance is still sub­ject to re­view and po­ten­tial changes un­der the usu­al...
28/09/2020
Di­git­al glob­al notes for Aus­tri­an debt is­suers
Up to present, se­cur­it­ies (Wer­t­papiere) cre­ated un­der Aus­tri­an law had to be in pa­per-based form where those se­cur­it­ies are in­ten­ded to be settled in a se­cur­it­ies set­tle­ment sys­tem and to be­ne­fit from...
28 April 2020
Pay­ment morator­ia un­der COV­ID-19 le­gis­la­tion - Im­pact on se­cur­it­isa­tion...
Le­gis­lat­ors in many jur­is­dic­tions have ad­op­ted pay­ment morator­ia as a debt­or re­lief meas­ure in view of the COV­ID 19 situ­ation (please con­sult CMS Ex­pert Guide to Coronavir­us Re­lated Loan Morator­i­ums on...
19/03/2020
COV­ID-19 – ECB bank cap­it­al re­lief meas­ures – Aus­tri­an leg­al per­spect­ive
In its press re­lease of 12 March 2020, the ECB (in line with the EBA's state­ment of the same day) com­mit­ted it­self to two ma­jor cap­it­al re­lated meas­ures. Ac­cord­ing to the ECB, banks  •    can fully...
11 March 2020
Cap­it­al mar­kets law ex­pert Wal­ter Gapp joins CMS in Vi­enna as part­ner
The cap­it­al mar­kets law team at CMS in Vi­enna wel­comes an ex­per­i­enced ex­pert: Wal­ter Gapp has joined CMS in Vi­enna as part­ner. With a fo­cus on debt cap­it­al mar­kets, he has spe­cial­ised in sup­port­ing in­vest­ment...