He joined Promontory from the Securities and Exchange Commission, where he served as associate director and head of the commission’s office of clearance and settlement. In that position, he led the review of SEC-registered clearing agencies for systemic importance by the Financial Stability Oversight Council and the establishment of new financial and risk management supervisory practices for such firms. Peter also led the expansion of the office’s responsibilities to include oversight of the data repositories and clearing firms that handle security-based swaps, increased the commission’s resources devoted to matters involving transfer agents, and supervised the review of proposals for the introduction of new market infrastructures related to clearance and settlement. He often represented the SEC at interagency, international, and public forums and events.
Prior to joining the commission, Peter was a senior executive with Hong Kong Exchanges and Clearing Ltd., where he supervised the regulation of initial public offerings and led the company’s corporate-strategy function. Earlier in his career, he was a partner with Allen & Overy in Hong Kong, advising financial clients on over-the-counter derivatives transactions and public and private securities offerings.