Piotr Gołębiowski

Piotr Gołębiowski

Advocate, Head of Department of Capital Markets Law

Practice Area:

Public Procurement Law Department

Experience

In his practice, Piotr Gołębiowski focuses on legal issues relating to banking and finance, capital markets and regulatory matters. He has over 16 years of professional experience.

In the past, he held the position of director of the compliance department (compliance officer and AML Officer) and legal advisor in one of the largest banking investment fund companies. He also served as a lawyer and later as director of the legal and compliance department of a brokerage house with a leading position on the forex market in Central and Eastern Europe, which he helped to develop internationally. He was the manager in charge of the international operations of a foreign branch of an investment company in one of the banking brokerage houses. During his career, he also held the position of chief legal officer and director of the compliance and internal supervision department (compliance officer) of a public company. He has worked with a Polish and an international law firm as well as with commercial banks.
Piotr Gołębiowski has many years of experience in providing services to investment fund companies and investment funds, in particular services related to the implementation of investment and pension products such as investment programmes, investment portfolios, employee capital plans (PPK), individual retirement accounts (IKE) and more. He has advised on the compliance of financial institutions with regulations such as MiFID, ESG, CRD/CAD, MAR, GDPR, BMR, MMF, PRIIPs, SFTR, EMIR, FATCA, CRS, PSD, UCITS and AIFM.

He also has extensive experience with regard to the legal aspects of trading in financial instruments, with particular emphasis on the forex market. His area of expertise includes advising financial institutions on derivatives such as, among others, contracts for differences (CFDs), options, forward and future contracts, swaps. Piotr Gołębiowski has also advised on the introduction of other financial instruments, including structured products. He has been responsible for the comprehensive implementation of various financial products (e.g., Equity-CFD DMAs) into financial institutions’ offerings, including preparation of detailed contractual documentation (regulations, contracts, policies, questionnaires, etc.). He has provided advice on the implementation of social trading/mirror trading projects, white label and algorithmic trading programmes as well as on issues related to the use of IT services in financial institutions (e.g., IT outsourcing, co-location and data centre services).

He has drafted a number of regulations, instructions and internal procedures for financial institutions aimed at implementing the provisions of European Community and national law. He has advised so-called public interest entities on the establishment and operation of audit committees.

Piotr Gołębiowski also has vast experience in designing and introducing anti-money laundering and counter-terrorist financing (AML/CFT) systems. He has advised on their implementation in almost all EU Member States as well as in some non-EU countries and has trained employees of financial institutions in this area.

He has also prepared a number of legal documents relating to the introduction of outsourcing services and services of short sales and the lending of securities. He has been responsible for the implementation of and supervision over the establishment of tied agents and introducing brokers/market partners by investment companies and has advised on issues related to the operation of the investment fund sales network.

He has advised financial institutions in the course of proceedings before the Polish Financial Supervision Authority concerning the granting and extension of brokerage licences and the use of the MiFID passport to conduct brokerage activities within the territory of EU Member States through a branch office or without opening a branch (cross-border). He has also been in charge of proceedings before the Financial Supervision Authority for granting permission to carry out brokerage activities outside the territory of EU Member States and to authorise members of management boards of financial institutions. He has represented financial institutions in day-to-day contacts with the Financial Supervision Authority and during inspections carried out by its authorised staff. He has prepared financial institutions for the supervisory review and assessment conducted by the Financial Supervision Authority. He has advised on the establishment of investment companies outside Poland as well as on the acquisition and disposal of their shares.

Piotr Gołębiowski has represented financial institutions in proceedings before the Office of Competition and Consumer Protection and the Inspector General for Personal Data Protection. He has also provided advice in the course of proceedings before the President of the Office for Personal Data Protection. While holding the position of an information security administrator (ABI), he advised financial institutions on the implementation of personal data protection regulations, information security policies, IT system security regulations and business continuity plans (BCPs). He has also carried out audits of IT systems in financial institutions. As a compliance officer, he was responsible for the compliance and internal control systems in financial institutions, carrying out on-site and off-site inspections, creating organisational structures of headquarters and branches of financial institutions, preparing spin-off plans.

During his career, he has represented financial institutions before organisations such as Warsaw Stock Exchange, Central Securities Depository of Poland, Chamber of Fund and Asset Management (IZFiA), Chamber of Brokerage Houses (IDM) or Polish Bank Association (ZBP). He has actively participated in IZFiA working groups.

He has advised foreign companies on the application of incentive schemes (managerial options) for the employees of their subsidiaries in Poland. He has been responsible for adapting various companies’ internal legal documents to the corporate governance rules in force at the Warsaw Stock Exchange, drafting the legal parts of prospectuses for public offerings of shares and placing them on the regulated market (IPOs and SPOs). He has prepared consortium agreements with securities offerors for investment companies and advised them on block trades and acquisitions of large blocks of shares in public companies. He has also given advice to investment companies and funds with regard to their notification obligations related to the acquisition and disposal of large blocks of shares in public companies.

He has advised financial institutions on drafting and negotiating agreements with providers of software enabling connection to the Universal Trading Platform of the Warsaw Stock Exchange.

As a compliance officer and in-house lawyer in companies listed on the Warsaw Stock Exchange, he was responsible for the submission of current and periodic reports, as well as for all other matters related to the day-to-day operation of public companies (including the organisation of general meetings of shareholders: acting as chairman, providing services at supervisory board and management board meetings).

His areas of practice also include corporate law, mergers and acquisitions, employment law and employee benefits, contract law, personal data protection, IT/new technologies and intellectual property.

He is the author of the first practical commentary to the Act on Counteracting Money Laundering and Terrorist Financing published in Poland (P.P.Gołębiowski, Ustawa o przeciwdziałaniu praniu pieniędzy oraz finansowaniu terroryzmu. Komentarz [Commentary to the Act on Counteracting Money Laundering and Terrorist Financing], Warsaw 2015, 490 pages).

He has been a regular commentator and expert for Forbes magazine. He has published articles in trade journals such as Przegląd Prawa Handlowego [Commercial Law Review], Monitor Prawa Handlowego [Commercial Law Monitor], Monitor Prawniczy [Legal Monitor], Prawo Bankowe [Banking Law], FXMag and websites such as Inwestycje.pl

Licence

Attorney, member of the Warsaw Bar Association

Education

University of Warsaw, Faculty of Law and Administration (Law); University of Warsaw, Faculty of Journalism and Political Science (Political Science); University of Warsaw, Postgraduate Studies in Capital Market Law; University of Florida, Fredric G. Levin College of Law, Center for American Law.

Languages spoken

Polish, English