Peter McGowan is a Partner in the Broker-Dealer & Investment Management Regulation and Private Investment Funds Groups, resident in the London office.
Peter has broad-based experience in UK and EU financial services regulatory matters, including advising on: the structuring and establishment of private investment funds; FSA authorisations; perimeter issues; EU passporting; proposed and current EU and international laws and regulations such as AIFMD, Basel III, MiFID, UCITS, EMIR, Prospectus Directive, CRD, Solvency II and short selling regulations; conduct of business; financial promotions and marketing; client assets; regulatory capital; market abuse; systems and controls; appointed representatives and tied agents; anti-money laundering; changes of control and close links; and approved persons.
A representative range of financial services regulatory matters Peter has handled include advising:
a US private equity fund adviser on the potential impact of AIFMD, Solvency II and Basel III on its business and group/fund structure
a US private equity fund adviser on structural, UK authorisation, approved person registrations, regulatory capital and marketing issues associated with the establishment of a UK subsidiary
a US hedge fund manager on insider trading issues
a UK private equity fund adviser on the establishment of appointed representative arrangements with a principal
a UK private equity fund manager on change of control and close link issues associated with an investment held through a group and fund complex structure
Peter also leads outsourcing, private M&A, fund administration and custody transactions and arrangements in the investment management sector, and counsels principals and agents in the investment services industry on private stock lending, repo, foreign exchange and derivative trading arrangements. Peter also is involved by clients in day-to-day advisory issues arising in these areas, such as matters of contractual interpretation, market practice and agency, trust and fiduciary issues.
The comments of The UK Legal 500 have included that Peter is “excellent,” “‘understands the market’ and ‘has immense technical skill.’” Prior to joining Proskauer, Peter’s experience has included partnership in a magic circle law firm, based in its London financial services group.
Peter also spent a year seconded to the legal department of The Chase Manhattan Bank, N.A., during which time he functioned as the lead lawyer for the EMEA global securities services division and advised on a wide range of regulatory, banking and commercial issues pertaining to securities services business.
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