What he's best at:
Edward has a broad and deep experience of the financial services sector having worked in this space for nearly thirty years. He has extensive expertise in all aspects of financial services and markets law and regulation as well as derivatives, funds and other financial products. His specialist experience as a regulatory, advisory and transactional financial services lawyer and as a compliance consultant includes investment funds (particularly hedge funds, private equity funds and other alternative investment funds); OTC as well as on-exchange derivatives and securities; proprietary traders including high frequency traders and automated traders; and regulation of exchanges, clearing houses and other financial markets and products.
In addition to being an English solicitor he was admitted as a member of the bar of the State of New York in 1983 and has practiced in both the UK and the US. Edward’s practice within the financial services and markets space has particularly focused on cross-border and multi-jurisdictional products, transactions and structures. His client base is both “buy-side” and “sell-side” and includes funds and asset managers and advisers; derivatives and securities brokers and dealers; investment banks, proprietary traders and corporate finance firms as well as family offices and institutional investors.
Financial Services Regulation
Financial Services Compliance
Who he works for:
Asset managers and advisers
Derivatives and securities brokers and dealers
Corporate finance advisers
Areas of expertise:
- Regulatory compliance: advising on a broad range of issues relating to conduct of investment business including the application of the Financial Services and Markets Act 2000 (FSMA), the principles and rules of the UK Financial Conduct Authority and EU financial services and markets Directives and Regulations.
- Particular experience with perimeter issues relating to the need for authorisation to carry on investment business in the UK – including perimeter advice on investment business, consumer credit and mortgage business.
- Preparation, negotiation and advice on a broad range of investment business products and services including asset management and investment advice, securities, OTC and on-exchange derivatives (trading and clearing), repos and securities lending, investment funds, structured products, depositary and custody services, collateral management, prime brokerage agreements and investment management agreements as well as a broad range of other agreements relating to financial products and services.
- Fund formation, marketing and distribution (particularly alternative investment funds such as hedge funds and private equity funds and other alternative investment funds (AIFs)).
- Advising in relation to FCA supervision and monitoring including preparation of compliance manuals and compliance policies and procedures) and on-going compliance monitoring programmes. Extensive experience with respect to EMIR, MiFID and AIFMD.
- Advising clients applying to become FCA authorised, varying regulatory permissions, applying for approval of changes of control and passporting businesses out of or into the UK – particular focus on asset managers, proprietary traders, investment managers and advisers and derivatives and securities brokers.
- Advising UK and U.S. and other non-EU asset managers with respect to compliance with, and reporting under, the Alternative Investment Fund Managers Directive.
- Preparing and negotiating documentation and advising in relation to on-exchange and OTC derivatives, securities, commodities and foreign exchange transactions including clearing.
- Advising and co-ordinating multi-jurisdictional regulatory projects in relation to marketing of investment products and services, particularly investment funds.
- Advised on, negotiated and drafted agreements for private company share and asset purchases and sales involving UK, US and European investment businesses; establishing and exiting joint venture companies, partnerships and LLPs
- Advised on the application of UK and EU laws and regulations to the offer of securities, fund interests and investment services and in the UK and worldwide.
- Particular experience regarding laws and regulations applicable to marketing of funds, securities, derivatives and investment services in the UK and internationally, working with counsel in over 60 jurisdictions worldwide.
- Advised on structuring of corporate transactions for investment businesses including consideration of regulatory and capital issues and a variety of cross-border questions.
- Advised extensively in relation to issues arising from counterparty insolvency (claims in relation to Lehman Brothers and MF Global UK and US affiliates) and in relation to managing risks of potential broker or counterparty insolvency e.g. margin and capital requirements; collateral segregation.
- Represented the liquidator of a UK futures broker (Griffin Trading).
- Advised in relation to British Government (Department for International Development) sponsored projects, in particular drafting and commenting on securities and markets and investment fund laws and regulations in emerging markets, including Bosnia, Bulgaria and Jordan.
- 2015-2016 Withers
- 2004-2013 Katten Muchin Rosenman
- 2002-2003 Fieldfisher
- 1999-2002 Dentons
- 1996-1999 Mayer Brown
- 1989-1995 Rogers & Wells (now Clifford Chance)
- 1987-1989 Phillips Nizer
- 1985-1987 Bermans and Bobrow Greenapple & Skolnik
- 1982-1984 Davis Hoxie Faithful and Hapgood
- 1978-1982 Clifford-Turner (now Clifford Chance)
- 2014-2015, ACA Compliance (Europe) Limited
- 2013, Bovill Limited
Education and Qualifications
- 1983, Member of the Bar, New York State
- 1982, BAR-BRI, New York State Bar Preparatory Course, New York
- 1980, Solicitor, England and Wales
- 1977-78, College of Law, Guildford, Law Society Final Examinations
- 1974-77, Oriel College, Oxford, BA Jurisprudence 1977, MA 1982