Firm Forms Exciting FinTech Partnering Deal with Suade
06 May 2015
International law firm Simmons & Simmons has entered into a ground-breaking partnering arrangement with Suade Labs Limited, an innovative new Financial Technology firm based in London.
Focusing on prudential regulation stemming from Basel III/CRD IV, Suade is building a platform for financial regulation that will increase transparency, reduce costs and allow firms to remain continuously compliant.
Given its longstanding core focus on the financial services and TMT sectors, Simmons & Simmons has identified FinTech as a natural key focus area for the future. The firm is committed to identifying and working closely with the exciting new breed of FinTech firms that are revolutionising the financial services industry. Simmons & Simmons sees enormous potential in Suade’s proposition and has, therefore, agreed to provide legal content and advice to Suade on a pro bono basis to assist it in creating a benchmark solution for the financial industry.
Commenting on the announcement, Pascal di Prima, the Simmons & Simmons partner who will be leading the team providing the core regulatory capital advice to Suade, said: “We believe Suade’s platform could revolutionise the entire process chain of regulation from publication to implementation. As a firm, we have a long track record for innovation and delivering value to clients through new ways of working. This ground-breaking collaboration with Suade provides the perfect opportunity to extend that approach into the heart of the FinTech arena.”
Simmons & Simmons’ managing partner, Jeremy Hoyland, commented: “We see the FinTech sector as a key strategic area of growth for our business. We are, therefore, delighted to be able to provide our legal expertise in this innovative way to help one of the UK's most exciting FinTech start-ups realise its ambitions.”
Suade’s CEO and Co-founder, Diana Paredes, commented: “When we looked at firms to partner with, Simmons & Simmons stood out due their extensive regulatory expertise as well as the quality of everyone we met there. They are a forward looking law firm that understands the FinTech scene and does not only want to be part of it, but also wants to help it achieve its full potential.”
Notes to editors:
- We are a leading international law firm with fully integrated teams working through offices in Europe, the Middle East and Asia, and bring experienced professionals to some of the most active growth markets today. Our focus on a small number of sectors means we are able to understand and respond to our clients’ needs. Our industry sectors are: Asset Management & Investment Funds, Energy & Infrastructure, Financial Institutions, Life Sciences and Telecoms, Media & Technology (TMT). We have a track record for innovation and delivering value to clients through new ways of working.
- Simmons & Simmons is an international legal practice carried on by Simmons & Simmons LLP and its affiliated practices. Accordingly, references to Simmons & Simmons mean Simmons & Simmons LLP and the other partnerships and other entities or practices authorised to use the name “Simmons & Simmons” or one or more of those practices as the context requires. The word “partner” refers to a member of Simmons & Simmons LLP or an employee or consultant with equivalent standing and qualifications or to an individual with equivalent status in one of Simmons & Simmons LLP’s affiliated practices. For further information on the international entities and practices, refer to simmons-simmons.com/legalresp.
- In response to growing demand in this area, Simmons & Simmons has established an International FinTech team made up of expert lawyers from across all practice areas within the firm to provide a full-service offering to clients operating in the FinTech sector. The team members are recognised as leaders in their fields and have extensive experience of advising businesses in both the financial services and technology industries.
- Simmons & Simmons’ International FinTech team is organising a seminar and networking event on 16 June 2015 as part of London Technology Week. “Navigating legal roadblocks to FinTech success” will include a series of panel sessions focusing on the three key legal hurdles faced by early stage FinTech businesses (regulatory compliance, IP protection and funding). Confirmed speakers include senior representatives from the FCA’s Innovation Hub, the UK Intellectual Property Office and several FinTech 50 businesses including Seedrs and Synerscope. Diana Paredes, Suade’s CEO and Co-founder, will also be speaking.
- Follow the Simmons & Simmons International FinTech Team on Twitter @Simmons_FinTech.
- Visit our website at simmons-simmons.com or our award-winning online legal service at elexica.com.
- For further information, please contact Heather McMaster, Senior Communications & PR Executive on +44 20 7825 3962 or at firstname.lastname@example.org.