FSCS appoints eight law firms to its legal panel
The Financial Services Compensation Scheme (FSCS) has appointed eight law firms to form its second legal panel, following a rigorous six-month procurement exercise.
The legal panel will last for four years and consists of three lots of work – core legal services, Scots law and HR/employment advice.
The appointments are as follows:
Core legal services
- Addleshaw Goddard
- Bevan Brittan
- Burges Salmon
- Burness Paull
- Clifford Chance
- Dentons UKMEA
- Eversheds Sutherland
Scots law
- Addleshaw Goddard
HR/employment advice
- Trowers & Hamlins
James Darbyshire, FSCS’s General Counsel, said:
“We’re delighted to announce the successful procurement of our new legal panel. The number and quality of firms made for an exceptionally strong field and is testament both to the degree to which FSCS’s role is recognised and valued, and to the quality and impact of FSCS’s legal work.
“Against a backdrop of increasing customer expectation and a changing economic and regulatory landscape, I’m confident we’ve got the right mix of legal partners to help us deliver our strategic priorities in the years ahead.”
FSCS has set out these priorities in its strategy document, FSCS into the 2020s: Protecting the Future, which identifies the challenges of the coming decade and FSCS’s priorities in meeting those challenges. The document sets out FSCS’s four strategic priorities for the next few years:
- Prepare – FSCS must be able to protect consumers in a crisis or in the event of major failures to maintain public confidence and financial stability.
- Protect – FSCS is known and trusted for protection that puts people back on track through outstanding customer experience.
- Promote – The full range of FSCS protection is known about and trusted.
- Prevent – FSCS collaborates with our regulatory and industry stakeholders to help prevent future failures and to reduce compensation costs.
The legal panel will play a key role in helping FSCS to drive forward its strategic aims and its first meetings will take place later this month.
Five of the eight firms were on the previous FSCS legal panel. They are Bevan Brittan, Burges Salmon, Dentons, Burness Paull, and Trowers & Hamlins.
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