Member Article

Commercial law firm gears up for regulatory changes

Corporate and commercial law firm Laytons has boosted its offering to banks, other lenders and borrowers with the recruitment of banking partner Andrew Gosnay in Manchester to head Laytons’ National Banking and Finance team.

Richard Kennett, the Firm’s Chief Executive, said: “I am delighted to strengthen our team further with Andrew’s recruitment, which reflects our continuing success with clients and the growth in our work both for borrowers and for banks and other lending institutions.”

Christine Barker, Managing Partner in Manchester added: “Andrew’s arrival is a reflection of our continued growing reputation in the Manchester/North West marketplace and our ability to provide market-leading legal advice.”

2014 will be a major year for changes to the legal and regulatory face of the lending market. It will see the implementation of extra regulation of mortgage lending under the new regulator the Financial Conduct Authority (FCA).

Consumer lending also switches regulator to the FCA and lenders need to implement the new legal and regulatory mantra of “Treating Customers Fairly”. This means there will be wholesale changes to documentation and processes in large swathes of the market for which clients need additional legal guidance and advice.

Laytons is a corporate and commercial law firm with a focus on dynamic business. The firm works as a single national team through its offices in Guildford, London and Manchester.

Mr Gosnay said: “Laytons is a firm committed to the needs of all clients whether they are major international banks or borrowers looking to source funding on competitive terms with workable structures that do not restrict the growth and flexibility of the underlying business and operations.

“We have seen a big shift from the traditional overdraft and property loan to more structured financing solutions. Clients need greater specialist legal advice when putting in place these more complex structures and finance documents.”

2014 will be a bumper year for changes to the legal and regulatory face of the lending market. We will see the implementation of extra regulation of mortgage lending under the new regulator the Financial Conduct Authority (FCA).

Consumer lending also switches regulator to the FCA and lenders need to implement the new legal and regulatory mantra of “Treating Customers Fairly”. This means there will be wholesale changes to documentation and processes in large swathes of the market for which clients need additional legal guidance and advice.

This was posted in Bdaily's Members' News section by Simon Malia .