30 03 2016

British Business Financial Services Ltd in its consultancy role for HM Treasury under The Small and Medium Sized Business Regulations 2015

Simmons & Simmons have advised British Business Financial Services Ltd, a subsidiary of British Business Bank plc, in its consultancy role for HM Treasury under The Small and Medium Sized Business (Finance Platforms) Regulations 2015


The British Business Bank was appointed by HM Treasury to assess the suitability of the finance platforms that applied for designation under the Regulations. Simmons & Simmons worked as an integral part of the project team that carried out the due diligence on the finance platforms that were shortlisted for designation. The outcome of that process was announced by UK Chancellor George Osborne MP in Wednesday’s Budget. This is a project at the forefront of the UK government’s plans to help SMEs obtain financing from alternative sources and boost the UK economy. It was the firm’s market leading FinTech expertise that led to it being instructed to act as sole advisor to the British Business Bank in an area that is at the forefront of the UK’s fast evolving FinTech sector. The Simmons & Simmons team was led by partner Angus McLean (Picture), supported by Penny Miller (Partner, Financial Services Regulation), Lawrence Brown (Managing Associate, ICT), Louise Tudor-Edwards (Associate, Financial Services Regulation) and Mandy Adogla-Popovic (Associate, Financial Services Regulation). Involved fees earner: Angus McLean - Simmons & Simmons; Penny Miller - Simmons & Simmons; Louise Tudor-Edwards - Simmons & Simmons; Mandy Adogla-Popovic - Simmons & Simmons; Lawrence Brown - Simmons & Simmons;

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