Angela Yotov née Coutinho

The latest article from the AG team looks at how ABL products work alongside other forms of funding and points to consider when looking at these structures to ensure a smooth process

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Some thoughts from me, David Pygott and others at Addleshaw Goddard on October’s key fincrime developments. There’s a 5 min read to help you get your head around what OTSI does and does not have responsibility for and a really interesting development in the US which should be of interest to any business which relies on AI driven monitoring or auditing of compliance. #aicompliance #otsi #fca #fincrime

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The FCA's latest Primary Market Bulletin sheds light on handling inside information, including scenarios like CEO resignations. Read our summary below for more details on how capital markets issuers can manage confidential information effectively. #FCA #MarketRegulation #Compliance #MAR #InsideInformation #SocialHousingFinance

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I had a great opportunity this week to head back to the Law Society for the first time in 20 years, to feed into the current debate about ethics in-house. There was a recognition of the value the Law Society can bring where in-house work can lead to a feeling of isolation and typically there is less support on ethical issues than for those who chose to remain in private practice. Hearing from so many other in-house lawyers helped me realise just how diverse the in-house market is and how much value an in-house lawyer can bring to so many different businesses/ organisations. Ultimately what ethics comes down to is doing the right thing - but is that always clear? Do ethics change over time or is the notion of ethics fixed? And what steps can a professional take if the current direction in their entity/organisation isn’t “doing the right thing”. I’m looking forward to continuing to input, and to seeing both the Law Society’s strategy once available, and the new framework for in-house work that is being developed. For those of us who love working in-house, it’s very much watch this space to see what comes next!

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I explore the world of the "undivorce" in the recent edition of Money Marketing magazine and what financial advisers need to be aware of. https://lnkd.in/e9xkXYHz #LowryLegal #legalcommentators #finances #familywealth

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The Bank of England yesterday launched a consultation on a draft package of new "Fundamental Rules" for FMIs including central securities depositories (CSDs), central counterparties (CCPs) and recognised payment system operators (RPSOs), as well as specified service providers (SSPs).   If the label sounds familiar, it's because the Prudential Regulation Authority has applied its own Fundamental Rules for PRA-authorised firms (e.g. banks and insurers) since 2014. In fact, many of the new Fundamental Rules for FMIs draw heavy inspiration from the PRA's version.   My key takeaways are:   💡The Fundamental Rules will form the foundation of a broader Bank of England rulebook for FMIs, to be developed to replace detailed requirements currently contained in legislation (including assimilated EU law). Their status as binding rules is significant given that the Bank could take enforcement action in response to a breach.   💡Although they draw heavy inspiration from the PRA's own Fundamental Rules, certain rules have been (expressly) drafted to align with terminology used in the CPMI-IOSCO Principles for Financial Market Infrastructures. In addition, Fundamental Rules 9 and 10 are particularly targeted towards the activities undertaken by FMIs, focusing on operational resilience and the risks posed by an FMI's operations to financial stability respectively.   💡A draft Supervisory Statement is included with the Bank's CP, providing further detail on the Bank's expectations in relation to each Fundamental Rule. Given the high-level drafting of the rules, this additional guidance is welcome – though a degree of uncertainty is likely to remain until we see how the Bank interprets and applies them in practice.   FMIs should engage with this consultation now – the deadline for responses is 19 February 2025, providing a limited opportunity to shape the Bank's policy. If you have any questions about what the new rules mean for you, get in touch! 🤝 #BankOfEngland #FMI #FundamentalRules

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Two members of our Slaughter and May Securitisation and Structured Finance team will be speaking at the #GlobalABS Conference on 4 June. Richard Jones will be a panellist on the topic of "Consumer ABS" and David Thomas will be a panellist on the topic of "Relative Value for Issuers Across Products." We look forward to seeing you in the audience! #globalabs #barcelona #securitisationandstructuredfinance #slaughterandmay #consumerabs #issuers #barcelona2024

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What will the new UK prospectus regime look like? Do check out our excellent briefing below to find out!

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Oh, we do love a sandbox! Actually, UK regulators lead the world in utilising sandboxes as a means of safely assessing and encouraging blue-sky innovation en route to real commercial opportunity. Whilst we are still to see true economic benefits of other innovations such as Open Banking in retail payments, there’s no doubt that digital securities are going to revolutionise large parts of our financial services industry as we know it today. #fintech #DSA #innovation #sandbox #outpacingchange

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The FCA has released a suite of Dear CEO letters, providing sector-specific expectations for firms navigating CD closed products changes. These insights offer crucial guidance on key risks and compliance priorities. #FCA #Compliance #FinancialServices #RegulatoryM&A #RiskManagement

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I feel very honoured to host this panel, with experts from across the market. Expect discussion on everything you would expect – innovation, RTGS renewal, APP scams, the NPV and more! 💡   #Fintech #Payments #FutureofFintech

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#TeamSPB examines the judgement handed down by ICC Judge Baister in the case of UKCloud Ltd earlier this year. This judgement built on the decision in Avanti by providing further analysis around the distinction between fixed and floating charges—following a dearth of case law on the point since Spectrum. Click here to explore some of the key messages and practical takeaways from the case ➡️ https://ow.ly/5xoT50TWbGE #SPBRestructuring | #Restructuring

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HM Treasury consult on regulation of ‘Buy now – Pay later: HM Treasury has launched a consultation on a proposal (initially consulted on by the previous Government) to bring ‘Buy now - Pay later’ consumer transactions under the Consumer Credit Act and supervision by the Financial Conduct Authority. The plans aim to ensure people using BNPL products receive clear information, avoid unaffordable borrowing, and have strong rights when issues arise. Companies will need to provide clear, simple and accessible information about loan agreements in advance so that shoppers can make fully informed decisions and understand the risks associated with late repayments. The new rules will allow the FCA to apply rules on affordability – meaning that Buy-Now, Pay-Later companies will have to check that shoppers are able to afford repayments before offering a loan. It is also proposed to apply section 75 of the Consumer Credit Act enabling consumers to claim refunds from their lender, and access to the Financial Ombudsman Service to make complaints.

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Whilst it is true that companies in most British Overseas Territories generally have less public reporting and disclosure duties than in England, there are moves afoot to change that with the introduction of public registers of beneficial ownership (although these plans keep getting pushed down the road). As experienced litigators, we already enjoy considerable success acting for clients in litigation and asset recovery actions in BOT’s, albeit greater transparency through public registers will certainly be of assistance. #assetrecovery #caymanislands #britishvirginislands #bermuda #insolvency

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💡 Hopefully, this sparks an opportunity for the African Continent, particularly, the Nigerian Financial sector to explore IP-backed loans, especially for high growth tech firms. By adopting similar models, the financial sector can unlock new funding avenues, support innovation, and stimulate economic growth in the country. #BankingInnovation #IntellectualProperty #Finance #Nigeria #BusinessGrowth #TechIndustry

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This article outlines everything you need to consider when setting up a private company in the UK. ➡️https://okt.to/bT7CtL

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There is generally relief across the financial services industry following yesterday’s Kings Speech, which signalled a continued focus on economic stability and growth and the role of the financial services sector. Even if we are looking at some 40 new bills, including reform around:   🏦 Bank resolution with the Bank Resolution (Recapitalisation) Bill, enhancing the UK’s resolution regime and enabling the Bank of England to better respond to the failure of smaller banks. Proposals include expanding the role and powers of the FSCS.   💻 Digital and data, including the Digital Information and Smart Data Bill and the Cyber Security and Resilience Bill. Although notably no AI Bill – yet…   👨‍💼👩‍💼 Governance, with the Draft Audit Reform and Corporate Governance Bill signalling a stronger framework for corporate accountability and replacing the Financial Reporting Council with the Audit, Reporting and Governance Authority. If ultimately passed into law, this would sit alongside the requirements under the SM&CR and directors’ duties.   💹 Green growth through the National Wealth Fund Bill, pitched as central to its mission to deliver growth and a greener economy.   For the litigators amongst us, there was also the Arbitration Bill.  And, of course, there is also the anticipated Employment Rights Bill with wide-ranging changes on workers’ rights.    #BCLP #financialservices #banking #regulation #compliance #AI

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