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Portrait ofClair Wermers

Clair Wermers


CMS Derks Star Busmann
Atrium - Parnassusweg 737
1077 DG Amsterdam
PO Box 94700
1090 GS Amsterdam
Languages English, Dutch

Clair Wermers is active in the capital markets and transaction practice, at both a national and international level. She has particular experience in M&A and asset transactions of licensed companies. She advises clients on all regulatory aspects of a transaction, including discussions with the regulators, market abuse regulations and notification requirements.

Clair is also highly involved in Fintech and is a member of the Board of Advisors of 2Tokens, a public-private partnership that aims to set clear rules and guidelines on how to deal with tokenisation.

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"Clair is a very seasoned legal expert in the area of FinTech and specifically in the upcoming area of blockchain technology, cryptocurrencies and tokenisation of real-world assets."

Chambers FinTech Legal, 2023

"Clair is a problem-solver. She gives us definite answers to our questions."

The Legal 500 EMEA, 2023

"Clair Wermers is a very friendly person and is very ambitious about our project. We like her entrepreneurial mindset as this helps our process a lot to make it fast and efficient."

The Legal 500 EMEA, 2023

Clair is an expert on digital assets and how to get approval from legal regulatory bodies.

Chambers FinTech Legal, 2022

We like to think of Clair as an upcoming talent in the local FinTech sector, says a market insider. She is very active in the cryptocurrency industry.

Chambers FinTech Legal, 2021

Awards & Rankings

  • Chambers FinTech Legal, 2023, Ranked in FinTech Legal
  • The Legal 500 EMEA, 2023, Clair Wermers is ranked Leading Individual
  • The Legal 500 EMEA, 2023, Clair Wermers is Recommended
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  • Securities Law, Grotius Academy for Post-Graduate Law Studies
  • Domain-based Economics, Utrecht University
  • Dutch Law (Economy-related Public and Company Law), Utrecht University
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NFTs under MiCAR – are they regulated or not?
NFTs under MiCAR – are they regulated or not?
The Markets in Crypto-Assets Regulation (MiCAR) sets down a harmonised regulatory framework for crypto-assets. MiCAR's overarching goal is to extend regulatory oversight to those categories of cryptos...
Cross Border Financial Regulation
How to keep pace with the ever changing landscape of regulation?
CMS Expert Guide to Crypto Regulation in The Netherlands
Disclaimer: This chapter was last updated on 8 September 2023 and does not reflect any subsequent developments. The information provided is intended for general informational purposes and should not be...
Trading of crypto-assets in detail
The Markets in Crypto-Assets Regulation (MiCAR) sets down a harmonised regulatory framework for service providers known as crypto-asset service providers (CASPs), which carry out activities with crypto-assets...
ESMA Updates Guidance on Investment Advice
The European Securities and Markets Authority ("ESMA") has updated its supervisory briefing on the definition of investment advice under MiFID II (the "Briefing"). The Briefing replaces the old guidance from 2010 and specifically addresses the application of investment advice to new business models and the use of social media and mobile apps. Scope The Briefing contains useful guidance from the European supervisor for all parties that may provide investment advice, such as investment firms, credit institutions, UCITS management companies and alternative investment fund managers (AIFMs). Furthermore, the guidance can be used by parties to assess whether their own services fall within the scope of investment advice. This can especially be relevant for finfluencers. In its Briefing, ESMA covers the following aspects:The provision of personal recommendations and whether other forms of presenting information could constitute investment advice;The presentation of a recommendation as suitable for a client or based on the client's cir­cum­stances;Peri­met­er issues around the definition of personal recommendation; andIssues around the form of communication. What you need to know Although the definition of investment advice has not changed since the guidance from 2010, the Briefing addresses its application to align with new business models and recent technological developments. The Briefing seeks to connect the existing definition of investment advice with the new ways of investment advice in which online advice plays a major role.Under MiFID II, investment advice means the provision of personal recommendations to a client, either upon its request or at the initiative of the investment firm, in respect of one or more transactions relating to financial instruments. That recommendation must be presented as suitable for that person or must be based on a consideration of the circumstances of that person. ESMA made the following clarifications regarding this definition:Not only explicit statements qualify as recommendations. Recommendations may also be provided in an implicit or indirect manner;Copy trading, whereby a firm can give clients access to portfolio of 'copied traders', whose trades can be copied, may qualify as investment advice;Whether a recommendation is "generic advice" is clarified;Even if a clear, prominent and understandable disclaimer is provided stating that no advice or recommendation is being given, a firm could still be deemed as having presented a re­com­mend­a­tion;Even though a recommendation made exclusively to the public does not qualify as investment advice, recommendations made through internet websites, investment apps or social media could be regarded as personal re­com­mend­a­tions;If a firm gathers information on a person's circumstances while providing training or courses, and these circumstances are used as a basis for a recommendation, this would qualify as investment advice; andThe response to the request of a professional client to find a product by giving the firm precise information regarding the product's characteristics does not qualify as investment advice, unless the investment firm has expressed an opinion on the product's suitability. Anything else? ESMA included a diagram in the Briefing containing the five key tests for investment advice and addressed the questions from the diagram in four practical cases to clarify the guidance. The diagram and the practical cases can serve as a helpful tool for market parties to determine whether a service constitutes of investment advice that requires a license. Contact For more information on these observations, contact your regular CMS advisor or local CMS experts Clair Wermers, Karsten Bruinsma and Kilian Rowel.
Legal experts on Markets in Crypto-Assets (MiCA) regulation
The European Parliament's approval of new crypto licensing regulations has been largely well-received by the industry, marking a significant first step towards a uniformly regulated digital asset market. The anticipated Markets in Crypto Assets (MiCA) regulation, designed to safeguard consumers and maintain financial stability, is set to come into effect in mid-2024, a move that has garnered initial positive responses.While MiCA applies exclusively in the European Union (EU), its global relevance is undeniable. It positions the EU as a leader in managing this complex domain, providing the world with a regulatory framework for further re­fine­ment.Con­sequently, legal experts and enthusiasts from CMS specialising in crypto and other digital assets have collaborated to provide their perspectives on various facets of MiCA. This webpage serves as a repository for articles encapsulating the present state of affairs.For legal support pertaining to crypto and other digital assets, reach out to your regular CMS liaison or send an email to crypto@cmsleg­al.com.
How to use E-money tokens in the EEA
The Markets in Crypto-assets Regulation (MiCAR) covers electronic money or e-money tokens, a crypto-asset that purports to maintain a stable value by referring to the value of a fiat currency that is...
Back to Basics briefings - New briefing added!
CMS Funds Group Back to Basics briefings intend to provide high level insights regarding funds fundamentals, funds vehicles and operational considerations New briefings are published on a regular basis, covering a specific jurisdiction or topic, and providing basic essential technical explanations.
CMS ranked in the new Legal 500 EMEA
The latest rankings of the Legal 500 Europe, Middle East & Africa (EMEA) are out. We would like to thank our clients for their trust in us and their feedback. Our lawyers are described as 'personal, professional...
Regulatory points of attention - short video series | Episode 1
Video series CMS Funds Group regulatory experts have identified key regulatory points of attention that need to be carefully addressed in the structuring and management of a fund. With this in mind, we would like to invite you to watch our short videos They have been devised to provide fund managers with a glimpse into the do’s and don’ts across a number of basic areas that convey significant risks.
Sustainable Financing
ESG: Environmental, Social & Governance