www.abfa.org.ukwww.abfa.ie

2016-Q4

Update for Members

& AffiliatesQUARTERLYPublished 7 February 2017

I have been asked to write the UK chapter of a book which is to be published during 2017. The book will illustrate the

history, development, and current state of play of Invoice Finance worldwide. As part of my work I had occasion to look at the history of the ABFA and its membership.

Although some of the information on the early years of the ABFA is lost in the mists of time, I could at least establish when the association started and it also reminded me of the changing face of Invoice finance in the UK & Ireland and that its membership continues to change and adapt as the years go by.

The Asset Based Finance Association (ABFA) is the most recent iteration of what started as a few industry leaders meeting regularly in the early 1970s. In 1976 the Association of British Factors (ABF) was formed by subsidiaries of the UK Banks. A few years later the smaller, privately owned Factors formed the Association of Invoice Factors (AIF) to discuss and debate common areas of interest and issues which affected them.

As the industry changed and invoice discounting became the predominant product, the ABF (not for the only time)

changed its name to more properly represent the products provided by the industry, becoming the Association of British Factors and Discounters (ABFD). In September 1996, the ABFD merged with the AIF and the relatively recently formed UK chapter of the Commercial Finance Association to become the Factors and Discounters Association (FDA).

This new association now represented factors, invoice discounters and asset based lenders and was formed of clearing bank subsidiaries, foreign banks and independent providers in the UK and Ireland. So, once again, to reflect the change in emphasis towards all asset finance, in 2007 at its conference the members agreed to change the name of the association to the Asset Based Finance Association.

The UK membership of the association reflects, too, the changing nature of the UK industry as privately owned

businesses get bought and sold, banks change their names and foreign owned banks enter and leave the UK market.

QUICK QUIZ – WHERE ARE THEY NOW?

Below is a chart showing the UK membership of the FDA at the time of its inception in 1996 – more than twenty years ago. How many are still trading under the same name if indeed they are trading at all?

CEO’s Message: A Walk Down Memory Lane

Inside this issue:CEO’s Message P1 - P2

Professional Standards Council P3

Government Affairs & Policy P4 - P5

Information & Guidance P6

Education & Training P7

Public Relations P8

Events P9

Statistics & Data P10

Diary Dates P11

Contacts & Resources P12

Past Quarterlies Online

Aston Rothbury Factors Ltd

Bank of AmericaBank of Scotland Cashflow Finance

Barclays Sales Financing

Bibby Financial Services Ltd

Burdale Financial Ltd

Cashflow Partners LtdCattles Invoice Finance Ltd

Charterhouse Commercial Finance plc

City Invoice Finance Ltd

Close Invoice Finance Ltd

Clydesdale Bank plc

Coface Receivables Finance Ltd

Davenham Trade Finance Ltd

DCD Factors plc

Enterprise Finance Europe

Eurofactor (UK) LtdEuro Sales Finance (UK)

Five Arrows Commercial Finance Ltd

Fortis Commercial Finance Ltd

GE Commercial Finance Ltd

GMAC Commercial Finance plc

HSBC Invoice Finance (UK) Ltd

Independent Growth Finance

JP MorganLloyds Commercial Finance Ltd

RBS Invoice Finance Ltd

RDM Factors Ltd Regency Factors plcSkipton Business Finance Ltd

SME Invoice Finance Ltd

Ultimate Finance Group plc

Venture Finance Ltd

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Only those in the unshaded boxes have not undergone at least one change of ownership or

closed in the last twenty years. What does this say about our industry?

My interpretation is that it shows that there is a fundamental consistency about the involvement of the UK clearing banks in our market; that there remains a desire amongst foreign banks to compete in the UK Asset Based Finance market; there is still a hunger to acquire businesses that are successful in our market: but that its isn’t always easy for smaller business to compete and thrive without the support of

a larger investor.

It is still an exciting industry in which to work and, with a Brexit influenced economy and a Trump influenced world, 2017 should keep us all on our toes.

CHAIR AND VICE CHAIR APPOINTMENT IN IRELAND

We are happy to announce in December last year, the appointment of Michael Walsh as Chairperson and Mark O’ Rourke as Vice-Chairperson of the ABFA Irish Members’ Group.

Michael is currently Director of Ulster Bank Invoice Finance and Mark O’ Rourke is currently Head of Risk at Bibby Financial Services.

The next Irish Members forum will be taking place on the 8th February in Dublin.

For further information please contact Jeff.Longhurst@abfa.org.uk or call +44(0)208 334 0813.

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The ABFA and the wider invoice finance and asset based lending community were sad to hear of the passing of Freddy Salinger at the age of 98 at the end of October 2016. Freddy quite literally wrote the book on factoring and he will be fondly missed across the industry and far beyond as well.

Freddy’s legacy continues with the publication in December of the fifth edition of his aforementioned book, Salinger on Factoring. This edition is edited by Noel Ruddy and Nigel Davidson of ABFA Affiliate PDT Solicitors, along with the barrister Simon Mills. The latest edition has been substantially re-written and updated, and stands as a lasting tribute to Freddy’s contribution to the industry.

The book has been published by, and is available from, Sweet & Maxwell. [ISBN 9781847035523]

Very few people have had such an impact on the invoice finance and asset based lending Industry, not just in the UK but worldwide. His memory will live on through his eponymous book but he will be sadly missed by all that knew him.

For further information please contact Sandy.Virk@abfa.org.uk or call +44 (0)208 334 0818.

SALINGER ON FACTORING

CEO’s Message Continued...

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This is the final Quarterly for 2016 but the reality is that this piece is being written in the cold light of January, and so – on behalf of the Professional Standards Council - I still feel it is more than appropriate to wish all ABFA Members and Affiliates a very Happy New Year. We trust that you had a restful festive break.

Alex Waterman wrote at length in the last Quarterly on the changes to the Standards Framework that are in force from 1 January 2017, and Members will also have seen the correspondence from the PSC, so I will not dwell on them again here. However, the PSC does remind Members that the revised Inter-Member Transfer Process (IMTP) now forms part of the wider Standards Framework.

The antecedents of the current IMTP date back many years, and significantly predate the establishment of the Standards Framework. Bringing the revised guidelines into the Standards Framework demonstrates that it is now about ensuring that the transfer process between two ABFA Members is as smooth as possible for the benefit of the client, as well as for the benefit of the outgoing and incoming Member.

It is important to note that transfers have not been particularly prominent in terms of complaints received but bringing the process within the Standards Framework is part of longer-term work to make the industry’s products and services even more accessible.

The PSC and the ABFA will monitor the impact of the revised IMTP in practice and Members are encouraged to contact either Alex or myself to provide feedback or if there are any issues you believe

need to be considered.

Looking at the Standards Framework as a whole, 2017 will mark its fourth anniversary. But Members will be aware that the year may bring with it significant changes for both the Framework and the ABFA itself, with the Financial Services Trade Association Review (FSTAR) process likely to come to its final conclusion.

Reflecting on the work of the PSC over the last four years and of the ABFA before that in establishing it, it is interesting to note how much of it preceded many of the issues considered by the FCA in its work on the protection provided to SMEs as users of financial services. In the establishment and operation of the Framework we have certainly sought to address familiar challenges. Most prominently these have included:

• How to establish a system that focuses on principles and outcomes rather than on processes;

• Recognising that ‘SMEs’ come in all shapes and sizes, and that what the very smallest businesses may need will be very different from the requirements of a mid-sized corporate; and

• Where the balance should be struck between the rights of a small business as a user of financial services on the one hand and its responsibilities on the other.

On the final point the PSC has been very clear in warning against the ‘consumerisation’ of small businesses. These are all eternally tricky questions of course and are the ones that the Lending

Standards Board (LSB) is considering in the development of its Standards of Lending Practice for businesses. The PSC would not be so bold as to claim that they have been cracked. But I do think that as we head into a very uncertain year for the industry, for the UK and Irish economies and indeed for the world, it is worth the industry, the ABFA and the PSC to pause and reflect on what has been achieved. Our approach – voluntary in the sense that all significant providers choose to follow it rather than being obliged to by law, costs met by industry but with independence hard-wired into every element – has so far been effective for clients and finance providers. It is something that Members should feel proud of.

Looking forward to the year ahead, ABFA Members have a significant decision to make as far as the proposed new combined Financial Services Trade Association is concerned. Whilst we note concerns about potential visibility and influence within such a large and diverse body, the PSC is agnostic on the wider issue; how financial services firms choose to organise their representation and advocacy is ultimately up to them. The PSC’s only concern is that the objectives of the Standards Framework will be protected and enhanced through this process.

We welcome any feedback in relation to this or any other aspect of the Standards Framework. Please email Alex.Waterman@abfa.org.uk or call +44(0)208 334 0814.

Update from the Professional Standards Council By Lucy Armstrong, Chair of the PSC

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Government Affairs & PolicyJust a short piece for Q4 to summarise progress on some of the main government affairs and policy matters for the year and look forward to things to come in 2017.

REFERRALS: DEFINING AN UNSUCCESSFUL FINANCE APPLICATION

The legislation implementing the statutory referral scheme for SME clients of Designated Banks that have been ‘unsuccessful’ in applying for finance has come into force, and some referrals are flowing through to the Designated Finance Platforms.

The policy guidance prepared by the ABFA, in conjunction with stakeholders in government, the British Business Banks (BBA) and the nine Designated Banks, that seeks to set out what an unsuccessful application for invoice finance looks like, is also in effect. It is available on the ABFA website and also that of the British Business Bank which oversees the designation of the Finance Platforms. The first three Designated Finance Platforms presented to Members at the Combined Forum in October.

The BBA has produced similar guidance for the implementation of the policy for other financial services products. The BBA’s factsheet is available here.

The ABFA guidance is the Association’s interpretation of the policy and sets out the most effective and consistent implementation of the policy. On that basis; it is not a definitive interpretation and is not legal advice. The Designated Banks will be implementing referral processes in a manner appropriate to

how their businesses and agreements operate. Interpretation and enforcement will ultimately be a matter for the FCA and the courts.

VIEWS PLEASE -

The ABFA guidance, and indeed the perceived success or otherwise of the legislation will be subject to review. ABFA Members on both sides of the process – those who are required to refer and those who would wish to receive referrals - are encouraged to share their views with the ABFA so we can provide appropriate formal feedback to stakeholders. In addition, we would welcome views on the effectiveness of the policy as a whole, in particular on the operation of the Designated Finance Platforms. Please contact Matthew.Davies@abfa.org.uk.

DEEDS OF PRIORITY AND WAIVERS

The Lending Standards Board (LSB) is developing Standards of Lending Practice for business customers. As part of that process, and also as a likely consequence of the establishment of a combined Financial Services Trade Association (aka FSTAR), responsibility for the various guidance under the aforementioned Referrals initiative may transfer to the LSB.

In addition, the LSB are likely to take over responsibility for the successor to the 2014 protocol for the provision of deeds of priority and waivers.

Thank you to the ABFA Members

that responded to the survey on the effectiveness of the existing protocol last year; the ABFA will be feeding into the process of establishing the new standards. Again, ABFA Members on both sides of the process – both those who that may be required to provide waivers and those that would typically seek them – are encouraged to share their views. We will be seeking formal feedback in due course.

BAN ON ASSIGNMENT

By means of brief update, the ABFA met to discuss the draft Regulations with the Department for Business, Energy and Industrial Strategy just before Christmas and a revised draft is expected shortly. It has been a long process; thank you to Members for bearing with us. We hope to provide a more detailed update in the next Quarterly.

Continued...

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5

Government Affairs & Policy Continued

SECURED TRANSACTIONS LAW REFORMMembers will be aware that for many years the Secured Transactions Law Reform Project (a group of stakeholders and interest groups working independently of government) has been working on proposals to modernise the current legal framework for secured transactions.

This is an ambitious, multi-dimensional project which could have a range of far-reaching consequences. The ABFA itself, Edward Wilde as the ABFA’s Honorary Legal Adviser and a number of other representatives from Members and Affiliates have been involved in the group over the last few years.

The group has recently published a series of discussion papers on various aspects of reform which will form the agreed basis of the group’s proposals going forward. The ABFA would particularly draw the attention of Members and Affiliates to the discussion papers on:

• Fixed and floating charges• Sale of Receivables

These aspects in particular could have very significant implications for the industry should proposals to do away with the distinction between fixed and floating charges be effected.

SMEs AS USERS OF FINANCIAL SERVICES

As mentioned by Lucy Armstrong in the PSC section of the Quarterly, both the ABFA and the PSC contributed to the Financial Conduct Authority’s discussion paper on the treatment of SMEs as users

of financial services last year. Just to keep Members and Affiliates updated, the FCA response and next steps document is still yet to be published, but this is clearly an area that both the ABFA and PSC are maintaining a keen interest in. Please contact Matthew for copies of the submissions submitted.

URGENT VOLUNTEERS PLEASE

The ABFA would like to form a working group of representatives of Members and Affiliates to consider these issues in greater detail and develop the industry’s response. We would be grateful for those who would like to contribute to contact Matthew at the ABFA. Thank you in advance.

THE FUTURE…

As the Quarterly was going to press the Government published the Industrial Strategy Green Paper, ‘Building our Industrial Strategy’, closely followed by the ‘Brexit’ White Paper. The ABFA will be reviewing both in detail and engaging with Members and stakeholders as appropriate.

For further information about these issues or if there are any other areas you believe the ABFA should be making representations, please email Matthew.Davies@abfa.org.uk or call +44 (0)208 334 0816.

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Information and GuidanceASSET BASED FINANCE DEMYSTIFIED

The creation of the new ICAEW Invoice Finance and Asset Based Lending -

Demystified publication is well on the way.

The target audience for the publication will be over 8,000 ICAEW members,

other advisory communities and wider stakeholders.

We would like to ensure that this publication is well circulated and as such we need your help to distribute it. If you would like copies to distribute, please contact Sandy Virk and provide us with the quantity you need and where to send them.

The report will be unveiled at the ABFA Annual Conference in Bristol and we look forward to your support getting this document to reach as far as we can.

For further information please email Sandy.Virk@abfa.org.uk or call +44 (0)208 334 0818.

2017 SUITE OF ABFA LOGOS

Members will be aware that the core ABFA logo was updated in Q3 2016.

However, in December 2016 after consulting with the Executive Committee and following on from the results of the industry perception survey in February 2016, the decision was taken to make another slight amendment to the suite of ABFA logos.

The main change is replacing the previous ‘Informing • Engaging • Setting Standards’ with ‘Invoice Finance and Asset Based Lending.’

The ABFA and the PSC strongly encourage Members to use the relevant

logo on any materials where there is the intention to demonstrate membership of the Association: email sign-offs, letterhead and websites etc.

We are grateful that some Affiliates wish to promote their association with the industry; if an Affiliate does, we request that they use the dedicated Affiliate logo.

Logo’s can be downloaded from the Members’ area of the ABFA website or by contacting Sandy Virk if you have any specific logo formats.

For further information please contact Sandy.Virk@abfa.org.uk or call +44 (0)208 334 0818.

Invoice Finance and Asset Based Lending

Invoice Finance and Asset Based Lending

PROFESSIONAL STANDARDS COUNCIL

Invoice Finance and Asset Based Lending

UPDATE TO THE CODE OVEREVIEW DOCUMENT

In the coming months we will be updating the ABFA Code, Professional Standards & Complaints Framework overview document. The current document was created in 2013 and provides valuable information for prospects, clients and ABFA Members.

The document is designed for Members to share with prospects and clients to illustrate the standards that can be

expected from ABFA Members.

We would recommend that you have stock of this brochure available for clients. Please email me with the quantity you require and the delivery address by Tuesday 28 February 2017. You are also welcome to print these for yourself and make a digital copy available online.

The guidance document which is a more indepth and detailed document will remain the same and can be downloaded here.

For further information please email Sandy.Virk@abfa.org.uk or call +44 (0)208 334 0818.

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After a prosperous 2016 the Education Team and the ABFA would like to thank all those who attended the day courses and enrolled on the distance learning courses in 2016, making it such a great success.

As we look forward to 2017, the Day and Distance Learning Courses for 2017 have been launched and are now open for bookings. More information can be found through this link: http://www.abfa.org.uk/education/education.asp

2017 COURSE BROCHURE

Our 2017 Course brochure has now been published and includes the full programme of courses for the year. If you would like copies for your offices please email admin@abfa.org.uk with the requested quantity and delivery address. The digital version of the brochure can also be downloaded here, and emailed to your collegues.

UPDATED CERTIFICATE COURSE

The ABFA are also pleased to announce the launch of the new and improved Certificate Course which is now available online.

The new eLearning Certificate Course will follow a modularised concept and is structured by way of individual topic modules. The course has been revised and will now consist of 11 individual

modules.

To obtain the Certificate the student will now have to complete three compulsory modules which include:

• The Asset Based Finance Landscape

• Legal Aspects• Fraud and Risk

Students can then choose a further three modules from the following eight;

• Financial Analysis• International Invoice Finance• The Sales Process• Client Management• Audit & Survey• Insolvency• Debtor Litigation• Asset Based Lending

At the end of each section within the module there will be review questions and actions followed by an online examination at the end of the course.

Students passing a module will receive a Certificate in that specific module and upon the successful completion of all three compulsory modules and the three optional modules, the student will receive the ABFA Certificate qualification.

Alternatively, the student can choose to complete individual modules, targeted at specific areas relatable to their specific job role.

Bookings are now open for the course and the three compulsory modules will be available from 1 April 2017. The course will be open for bookings throughout the year allowing students to start the course at any time.

ACHIEVERS AWARDS

It’s that time of year where we also recognise the outstanding achievements of students who have excelled on an ABFA course in 2016. More details have been sent via email and details of the event can be found in the events section of the quarterly.

It is important that we work closely with our members to offer the best courses possible, so if there is anything you would like to see in any of our courses or if you have any content ideas please let me know.

Lastly, the Education Team would like to wish you all a very Happy New Year.

if you have any specific training requirements, need further information on courses or require copies of the 2017 course brochure please email Helen.John@abfa.org.uk or call +44 (0)208 334 0819

Education & Training

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UNITED KINGDOMActivity and coverage in the UK national press and key trade publications has included:

• Continued coverage of Q2 Statistics in (October): Business Moneyfacts, CCR Magazine, Credit Managements online, Business plus Online, The Irish Examiner, Raconteur, Treasury Today

• UK leads Europe in use of asset based finance (October): The Mail on Sunday - Analysis of EUF statistics shows that the UK is leading Europe in the use of asset based finance and now represents 26% of the European market. featured in The Mail Online, Growth Business UK, Capita Resourcing, and This is Money

• SME manufacturing companies forced to hold onto nearly £5bn in unsold stock (October): The Daily Telegraph - Analysis of how unsold stock is putting strain on the cash flows of SME manufacturers was included in Business Money, Construction National, Credit Management, Growth Business UK, Leasing Life, Smallbusiness.co.uk, and Works Management,

• SME food manufacturers forced to wait nearly 8 weeks for payment (November): The Mail on Sunday & The i (The Paper for today) - Analysis of how some SME food manufacturers are forced to wait up to eight weeks for invoices to be paid. This release was also covered in trade publications: BusinessAdvice.co.uk, Business Money, The Caterer, CCR Magazine, Credit Man, Commercial Reporter, Foodbev Media, Growth Business, and Western Daily Press,

• Alternative finance available through ‘asset based lending’ jumps to £4.3 billion – helping UK businesses combat shortage of funding (December): Analysis of quarterly statistics revealed that alternative finance available through ‘asset based lending’ reached £4.3bn. This release was covered in trade publications: Business Sale AltFi, Business Money, Business Sales Report, CCR Magazine, Commercial Reporter, Computer Reseller News UK, Crowdfund Insider, Finance(Web), Leasing Life, London School of Business, Peer 2 Peer Finance News, and Startups.co.uk.

FEATURED CONTENT

• Time for business (October) - Article for Business Money Facts.

• It’s BEISsiness Time (October) - Article for CCR.

The ABFA’s PR programme in the UK is delivered by Mattison Public Relations.

IRELAND

• 21% rise in Invoice Finance funds for large Irish businesses (October): BusinessWorld.ie – Analysis of Q2 2016 statistics which highlight that large Irish firms increased their use of Invoice Finance by 21% during the quarter. The content was also featured in The Irish Examiner newspaper, Bizplus.ie, business magazine, and the Bank of Ireland Corporate website.

• Demystifying Invoice Finance (Ongoing): Industry Body Outreach – Unique Media is conducting ongoing outreach to industry bodies in Ireland with a view to setting up seminar opportunities for the ABFA. Companies were contacted by email and follow-up calls are being made highlighting the opportunity and the potential benefits of a discussion around demystifying invoice finance for members.

The ABFA’s PR programme in Ireland is delivered by Unique Media.

News is available on the ABFA website here. Members and Affiliates are free to use our content in their own communications.

For further information please email Sandy.Virk@abfa.org.uk or call +44 (0)208 334 0818.

Public Relations

8

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EventsANNUAL DINNER

On 17 November we had the great fortune to welcome our Members and Affiliates once again to the Hilton, Park Lane London for the ABFA Annual Dinner.

ABFA Chair Martin Cooper provided a warm welcoming address to the 500 strong audience.

This years entertainer was Welsh born actress, writer and comedian Jo Caulfield. Unlike other entertainers, Jo arrived with a fully researched naughty and nice list of all our Members and Affiliates. Highlights included reading between the lines of certain Members taglines and the gender ratios on Members and Affiliates websites.

After much laughter the night continued with dancing into the early hours with DJ Dean Martin. To view pictures of the event click here.

ACHIEVERS AWARDS DINNER 2017

Royal Garden Hotel, Kensington - Wednesday 22 March 2017.

Book your tickets to the Achievers Awards dinner and recognise not just students nominated for an award relating to ABFA courses, but also colleagues / team members for significant personal and professional achievements.

The following awards will be announced; Top Foundation Student, Top Certificate Student, Top Financial Understanding Student, Top Operational & Legal Aspects of ABF Student, Top Diploma Student, Top Lecturer of the Year. BOOK HERE

Further information can be found on the website or contact Gloria.Dwyer@abfa.org.uk or call +44 (0)208 334 0812.

SAVE THE DATE: ANNUAL CONFERENCE 2017Bristol Marriott Hotel City Centre -9 - 10 May 2017.

A great opportunity to hear from leading professionals, thought leaders and speakers.

The Conference will open with a Welcome Reception at Brunel’s ss Great Britain on Tuesday 9 May and close on the evening of Wednesday 10 May with the Gala Dinner.

To read the review, see more photographs or view the time-lapse video of the 2016 Conference click here.

Sponsorship opportunities are available for the Annual Conference, for further information please contact Gloria.Dwyer@abfa.org. uk or call +44 (0)208 334 0812

EXHIBITIONS: BUSINESS SHOW 17 - 18 MAY - EXCEL LONDONWe are looking for Members who can spare time and resources to help represent the industry at our stand. Please email Sandy.Virk@abfa.org.uk or call +44 (0)208 334 0818 if you are available.

OTHER INDUSTRY EVENTS:BCR Receivables Finance International Convention - London Date: 15 - 17 March

Further information click here.

The Great Southern Business Money Commercial Finance Dinner - London Date: 28 March

Further information click here.

The Business Show - London Date: 17 - 18 May

Further information click here.

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New Members This Quarter

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Statistics and Data - Q3 2016

The ABFA statistics for Q3 2016 have been published on the ABFA website along with the UK release. Statistics for Q4 2016 are expected week commencing 20 February 2017.

UK RESULTSThe total amount of lending to UK & Irish businesses secured through asset based finance increased to £20.6bn by the end of September 2016, up 4% from £19.9bn in Q3 2015.

This was reflected in 12% increase in Invoice Finance Plus deals which reached £243m by the end of Q3 2016.

IRISH RESULTSBy quarter end ABFA Members in Ireland were supporting €5.9bn in client sales. Total advances reached €1.2bn with €2.3bn available funds.

Clients in the turnover band €10m - €25m showed positive results with a 6.8% increase in number of clients compared to Q2 and also a 10.8% increase in advances to €153m.

STATISTCIS HOUSEKEEPINGTo avoid the delays we experience in Members providing data to the FLA (which compiles the data on our behalf), we would be grateful if Members could submit data in a timely manner to ensure

the results can be circulated as quickly as possible.

If you have any queries please contact Sandy.Virk@abfa.org.uk or call +44 (0)208 334 0812.

ATRADIUSIs a world leading B2B debt collection firms with offices in 25 countries providing invoice collection and verification services in 96% of countries worldwide.

Their services are globally available supported by locally delivered client relationships.

CREDIT & BUSINESS FINANCE LTDCredit & Business Finance are a leading independent specialist credit insurance broker. Highly technical, we act directly for banks and other funders and where introduced, with their clients.

They introduce to the insurance market and manage finance policies that insure: invoice, trade, purchase and supply chain finance.

CAPITALFLOW DESIGNATED ACTIVITY COMPANY LTD The team at Capitalflow has been carefully assembled to reflect the ‘can do’ approach of Chief Executive Officer, Harry Parkinson, who has a strong history of working with individuals, entrepreneurs, small, medium and large companies to structure funding solutions to meet specific financial objectives.

New Affiliates This Quarter

VALIDISValidis was the brainchild of a group of finance professionals who identified a gap in the industry. They saw a need for a fast, simple and secure alternative to the risky manual methods of data sharing in financial review processes. Several years of development later, Validis, the first automated data extraction and analysis software, was born.

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Diary Dates for 2017A full list of ABFA meetings is available in the Members area of the ABFA website here.

MEETING DATES:

For further information please contact Roseanna.Eisdell@abfa.org.uk or call +44 (0)208 334 0815.

Irish Members Forum Attendance: Members

Date: 8 February 2017

Time: 10:30 – 12:30

Location: Russell-Cooke, London

Anti-Money Laundering & Compliance Forum Attendance: Members & Affiliates

Date: 14 February 2017

Time: 10:30 – 12:30

Location: Grant Thornton, London

Executive Meeting Attendance: ABFA Executive Committee

Date: 23 February 2017

Time: 10:30 - 13:00

Location: Squire Patton Boggs, London

Professional Standards Council Meeting Attendance: PSC Members

Date: 21 March 2017

Time: 10:30 – 12:30

Location: Russell-Cooke, London

Operations Forum Attendance: Members & Affiliates

Date: 28 March 2017

Time: 10:30 – 12:30

Location: BDO, London

Executive Meeting Attendance: ABFA Executive Committee

Date: 13 April 2017

Time: 10:30 - 13:00

Location: Alix Partners, London

Invoice Finance Forum Attendance: Members

Date: 3 May 2017

Time: 10:30 – 13:00

Location: Welcombe Hotel, Stratford Upon Avon

Irish Members Forum Attendance: Members

Date: 17 May 2017

Time: 11:00 – 13:00

Location: TBA

Legal & Technical Forum Attendance: Members & Affiliates

Date: 23 May 2017

Time: 10:30 – 12:30

Location: Squire Patton Boggs, London

Professional Standards Council Meeting Attendance: PSC Members

Date: 13 June 2017

Time: 10:30 – 12:30

Location: Russell-Cooke, London

Anti-Money Laundering & Compliance Forum Attendance: Members & Affiliates

Date: 20 June 2017

Time: 10:30 – 12:30

Location: Irwin Mitchell, London

AGM/CEO Council Meeting Attendance: ABFA CEOs, or designated delegates

Date: 21 June 2017

Time: 10:30 – 13:00

Location: TBA

EVENTS:

For further information please contact Gloria.Dwyer@abfa.org.uk or call +44(0)20 8334 0812.

ABFA Achievers Awards Dinner

Date: 22 March 17

Time: 19:15 - 00:00

Location: Royal Garden Hotel London

ABFA Annual Conference & Gala Dinner

Date: 9 - 10 May 17

Time: Welcome Reception 18:30 - 20:30 Conference 09:30 - 17:30 Gala Dinner 18:45 - 00:00

Location: Bristol

ABFA Annual Dinner

Date: 16 November 17

Time: 18:45 - 02:00

Location: Hilton Park Lane London

EDUCATION & TRAINING DATES:

Further information please contact Helen.John@abfa.org.uk or call +44(0)20 8334 0819.

DISTANCE LEARNING COURSES:

Foundation Course/ Certificate Course (Registration and start throughout the year)

Diploma Modules - (Registration and start date dependent on module selected.)

DAY COURSES:

Certificate Course - Introductory Seminar (1 day course)

Date: 22 February 17

Location: Birmingham

Certificate Course - Legal Aspects Review (1 day course)

Date: 22 February 17

Location: Birmingham

Introduction to Invoice Finance & ABL (1 day course)

Date: 7 March 17

Location: London

Fraud and Loss Prevention (2 day course)

Date: 28 March 17

Location: Birmingham

Audit & Survey Training (2 day course)

Date: 19 April 17

Location: Warwickshire

Legal Aspects of Receivable Financing & Asset Based Lending (2 day course)

Date: 25 April 17

Location: Manchester

Stock as Collateral for Lending (2 day course)

Date: 9 May 17

Location: London

Introduction to Invoice Finance & ABL (1 day course)

Date: 16 May

Location: Birmingham

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The Asset Based Finance Association

3rd Floor, 20 Hill Rise,

Richmond, Surrey

TW10 6UA

United Kingdom

T: +44 (0)20 8332 9955

F: +44 (0)20 8332 2585

www.abfa.org.uk

www.abfa.ie

Jeff Longhurst

Chief Executive Officer

Jeff.Longhurst@abfa.org.uk

T: +44 (0)20 8334 0813

Matthew Davies

Director of Policy & Communications &

Deputy Chief Executive Officer

Matthew.Davies@abfa.org.uk

T: +44 (0)20 8334 0816

Alex Waterman

Head of Education & Member Compliance

Alex.Waterman@abfa.org.uk

T: +44 (0)20 8334 0814

Gloria Dwyer

Head of Events & Administration

Gloria.Dwyer@abfa.org.uk

T: +44 (0)20 8334 0812

Sandy Virk

Marketing & Communications Manager

Sandy.Virk@abfa.org.uk

T: +44 (0)20 8334 0818

Helen John

Education Manager

Helen.John@abfa.org.uk

T: +44 (0)20 8334 0819

Anee Aktar

Education Administrator

Admin@abfa.org.uk

T: +44 (0)20 8332 2585

Roseanna Eisdell

PA to CEO/ Office Administrator

Roseanna.Eisdell@abfa.org.uk

T: +44 (0)20 8334 0815

Grace Shing

Accounts Assistant

Grace.Shing@abfa.org.uk

T: +44 (0)20 8334 0811

Key Contacts

12

We would be grateful if you could keep us informed of any major movements within your organisation, especially where those colleagues are a main contact or representatives on forums.

New colleagues can sign up to our events, education or news emails here: http://www.abfa.org.uk/newsletter_signup.asp. (Please note, you will be asked to confirm your email address via an automatically generated opt in email).

Roseanna Eisdell is your main contact if you would like to inform us about new joiners or leavers within your organisation.

For further information please contact Roseanna.Eisdell@abfa.org.uk by email or call +44 (0)208 334 0815.

HOUSE KEEPING - KEEPING YOUR DETAILS UP TO DATE

ICAEW: The business finance guide - a journey from start-up to growthABFA: Asset Based Finance - Take another lookIf you would like copies of either of these publications for your team to share with clients and potential clients we would be happy to share our supply. Please email the quantities you require and the delivery address. If you would prefer to print your own stock we can supply print files.

Please feel free to add the PDF to your own site or include with your own materials.

For further information please contact Sandy.Virk@abfa.org.uk or call +44 (0)208 334 0818.

A guide to asset based finance and how it can unlock working capital to help businesses grow

ASSET BASED FINANCE TAKE A FRESH LOOK

For more information go to: www.abfa.org.ukor call us on: +44(0)20 8332 9955?

PUBLICATIONS AND RESOURCES