Dr. Paul Schultess is a lawyer at the Frankfurt office. He advises credit, financial services and payment institutions as well as insurance companies and insurance brokers on all regulatory issues. His practice focuses in particular on advising on licensing and passporting procedures, cross-border activities, the introduction of new products and all compliance-related issues.
Another focus of his practice is insurance and liability law. He is a lecturer at the Institute for Insurance Law at Goethe University Frankfurt am Main and was awarded the prestigious Frankfurt Prize for Insurance Sciences (Frankfurter Preis für Versicherungswissenschaften) in 2025 for his specialist publications on insurance law.
Vita
- Since 2024: Lecturer at the Institute for Insurance Law / Goethe University Frankfurt a. M.
- Since 2023: Attorney-at-law at Annerton, Frankfurt a. M.
- 2023 – 2024: Visiting professor at the Université Lumière Lyon 2
- 2022: Doctorate at the Rheinische Friedrich-Wilhelms-Universität Bonn
- Since 2021: Research assistant at the Institute for Insurance Law, Johann Wolfgang Goethe University Frankfurt a. M.
- 2021 – 2023: Legal clerkship at the Regional Court of Wiesbaden, including a seat at BaFin
- 2019: Research stay at the University of St. Gallen
- 2018 – 2021: Research assistant at the Chair of Civil Law, Commercial Law and Labour Law, RWTH Aachen University
- 2012 – 2018: Studied law at the University of Cologne
Expertise
- Banking & banking supervisory law
- Compliance
- Financial Services Law
- Money Laundering Law
- Crypto & digitalisation
- Insurance and liability law
- Payment services supervisory law
- Payment services law
Publications
- Commentary on Sections 13, 15, 15a GwG, 25j, 25m KWG, in: Zentes/Glaab, Kommentar zum GwG, 4th edition 2025 (together with Sebastian Glaab)
- Fulfilment of money laundering obligations with the involvement of third parties, Zeitschrift für Versicherungsrecht (VersR) 2025, 521
- Commentary on Articles 16-18 MiCAR, in: Maume (ed.) Verordnung über Märkte für Kryptowerte, 2025 (together with Alireza Siadat)
- Suspected money laundering and reimbursement of pre-trial legal costs, commentary on OLG Frankfurt a. M. Judgment of 25 February 2025 – 10 U 18/24, Neue Juristische Wochenschrift (NJW) 2025, 1210
- Inadmissible constitutional complaint against the one-week ‘prohibition on conclusion’ for residual debt insurance contracts, comment on BVerfG decision of 20 December 2024 – 1 BvR 1779/24, Zeitschrift für Versicherungsrecht (VersR) 2025, 487
- No ‘three-year solution’ for the recovery of account maintenance fees – comment on BGH, judgment of 19 November 2024 – XI ZR 139/23, Neue Juristische Wochenschrift (NJW) 2025, 577
- Money laundering prevention in the insurance sector – status quo, criticism of supervision and innovations through the EU money laundering package, Zeitschrift für Versicherungsrecht (VersR) 2024, 961 (together with Eyip Akcuru)
- Russia-Embargo-VO and domestic German payment orders, comment on OLG Stuttgart, judgement of 7 February 2024 – 9. 7 February 2024 – 9 U 6/24 , Journal for Banking and Capital Markets Law (BKR) 2024, 586 (together with Alireza Siadat)
- Reversal of Bitcoin transaction in a three-person relationship, comment on LG Hamburg, judgement v. 25 January 2024 – 310 O 368/21, Journal for Banking and Capital Market Law (BKR) 2024, 485
- Money laundering due diligence obligations in the event of a change in ‘relevant circumstances’, Geldwäsche und Recht (GWuR) 2024, 72 (together with Sebastian Glaab and Jonas Philipp Burckgard)
- Secondary Credit Market Act – Requirements for the Purchase, Sale and Servicing of Non-Performing Loans, Zeitschrift für Wirtschaftsrecht (ZIP), 2024, 490 (together with Awet Yohannes)
- Original non-contractual negligence liability for pure financial losses, Mohr Siebeck (2024), XXXV + 556 pages
- Limitation of the responsibility of an executive body by internal rules of responsibility in the management of a company, comment on BGH, Urt. v. 9 November 2023 – III ZR 105/22, Journal of Insurance Law (VersR) 2024, 490
- Exclusion periods in payment services law, Recht der Zahlungsdienste (RdZ) 2024, 44 (together with Sebastian Glaab)
- The EU Amending Directive in relation to financial services contracts concluded at a distance, Zeitschrift für Bank- und Kapitalmarktrecht (BKR) 2024, 81 (together with Dr Anna Izzo-Wagner and Till Otto)
- From Open Banking to Open Finance – the Draft EU Framework for Financial Data Access , Recht Digital (RDi) 2024, 11 (together with Dr. Anna Izzo-Wagner and Till Otto)
- Export of humanitarian goods to Iran and payment processing, Zeitschrift für das Recht der Außenwirtschaft, Sanktionen und Auslandsinvestitionen (ZASA), 2023 361 (together with Alireza Siadat)
- Direct claim against the liability insurer due to civil-law prospectus liability of the insolvent policyholder as legal protection against damages, comment on BGH, judgement of 15 February 2023 – IV. 15.2.2023 – IV ZR 212/21, Liability international – Law and Insurance (PHi) 2023, 157
- Liability for investment in crypto assets in a relationship of courtesy, comment on OLG Frankfurt a.M., Urt. v. 19 April 2023 – 13 U 82/22, Journal for Banking and Capital Market Law (BKR) 2023, 460
- ‘Public’ inspection of the transparency register, Betriebs-Berater (BB) 2023, 1609 (together with Sebastian Glaab)
- Legal recourse in the event of a dispute over compliance with a notary’s MLA obligations, comment on BGH, decision of 14 November 2022 – NotZ 1/22, Betriebs-Berater (BB) 2023, 1235 (together with Sebastian Glaab)
- Reclaiming account management fees after ineffective fictitious consent, comment on LG Trier, judgement of 25 November 2022 – 1 S 69/22, Journal for Commercial and Consumer Law (VuR) 2023, 141
- Debit entry with claims of the account-holding institution as a payment transaction?, Wertpapiermitteilungen – Zeitschrift für Wirtschafts- und Bankrecht (WM) 2023 , 59
- Common objections of credit institutions against repayment claims of their customers after ineffective fictitious consent, Neue Juristische Wochenschrift (NJW) 2022, 431
- Assessment or (a little more) calculation of immaterial damages – what would be possible? in: Fuhrer/Kieser/Weber (eds.) Mehrspuriger Schadenausgleich – Des différentes voies menant à la réparation du dommage, Dike, Zurich 2022, 258-281 (together with Christian Huber)
- Prerequisites for the liability of the court expert, comment on OLG Hamm, Urt. v. 12.1.2022 – 11 U 21/21, Journal for Insurance Law (VersR) 2022, 1592
- Limitation of repayment claims due to ineffective premium adjustment in the event of disputed material effectiveness, Zeitschrift für Versicherungsrecht (VersR) 2021, 1555
- Property protection in official liability, Journal of Insurance Law (VersR) 2019, 1331