Publications
Broken Structured Finance:
Where We Keep Getting It Wrong
A publication series by Peterson Frederick.
Broken Structured Finance: Where We Keep Getting It Wrong is a series examining the assumptions the structured finance market rarely questions — from governance structures that quietly redefine "independent," to regulatory frameworks that lag the deals they're meant to oversee. Drawing on decades structuring edge-case ABS, private credit, and ESG-linked transactions across jurisdictions, each piece takes a practice the industry treats as settled and asks whether it should be. These are not consensus views. They're arguments — grounded, cited, and meant to provoke a response.
PLEASE NOTE: Pieces published in this series are developed with the assistance of AI tools, which support drafting, editing, and research. Underlying arguments, positions, and conclusions are my own. Unless otherwise indicated within a given piece, research referencing corporate services providers (CSPs) primarily concerns UK market entities.
Articles
The following articles are avialble:
The Structural Paradox of Structured Finance: Operational Realities That Undermine SPV Architecture (Published on September 8, 2026)
This full working paper examines the critical operational vulnerabilities, regulatory gaps, and governance compromises inherent in Special Purpose Vehicle (SPV) corporate administration within structured finance, proposing a unified three-pillar reform architecture to ensure true operational independence and bankruptcy remoteness.
Also available at the following links:
■ [SSRN] The Structural Paradox of Structured Finance: Operational Realities That Undermine SPV Architecture (Published on September 8, 2026)
■ [Research Gate] The Structural Paradox of Structured Finance: Operational Realities That Undermine SPV Architecture (Published on September 8, 2026)
The Independent Director Myth: Structured Finance's Most Convenient Governance Fiction (Published on July 20, 2026)
This piece argues that the standard practice of corporate services providers (CSPs) appointing their own personnel as "independent" directors of special purpose vehicles constitutes an unexamined structural conflict of interest
Also available at the following links:
■ [SSRN] The Independent Director Myth: Structured Finance's Most Convenient Governance Fiction (Published on July 18, 2026)
■ [Research Gate] The Independent Director Myth: Structured Finance's Most Convenient Governance Fiction (Published on July 18, 2026)
[SCI] The Independent Director Myth: Structured Finance's Most Convenient Governance Fiction (Published on July 30, 2026)
Published in Structured Credit Investor, this practitioner-focused piece examines how standard independent directorships in structured finance vehicles function as governance fictions — appointed, compensated, and replaceable by the same corporate service providers they are meant to oversee independently
Coming soon!
TBA
Coming soon!
TBA
Coming soon!
TBA
Books
The following Books are avialble:
THE INTEGRITY DIVIDEND: The NPI Socially Responsible Principles: A Practitioner's Handbook for ESG and SRI Debt Capital Markets
A practitioner's handbook for ESG and SRI debt capital markets, built around the twelve minimum standards Northern Providence Investments uses to govern itself and evaluate every partner and investment it considers. Through real-world-style case studies and forensic post-mortems of institutional failure — from boardroom groupthink to hidden supply chains — the book makes the case that diversity, fair pay, transparency, and sound governance aren't ethical add-ons to finance. They're the risk management that finance actually depends on.
Coming soon!
TBA
Coming soon!
TBA
Coming soon!
TBA