FSCS appoints eight top law firms to legal panel

The Financial Services Compensation Scheme (FSCS) has announced eight top law firms will make up its legal panel from January 2023. The panel has been appointed for three years, though the FSCS has the option to extend appointments for a further 12 months.

Bevan Brittan, Burges Salmon, Dentons, Eversheds Sutherland, Norton Rose Fulbright, Osborne Clarke, Burness Paull and Trowers & Hamlins were all successful in their bids to join the panel. Norton Rose Fulbright and Osborne Clarke are new to the panel, whereas the other firms were on the previous panel.

The work covered by the panel will focus on three areas: core legal services, Scots law, and HR and employment advice. Bevan Brittan, Burges Salmon, Dentons, Eversheds Sutherland, Norton Rose Fulbright and Osborne Clarke will support on core legal services; Burness Paull will advise on Scots law; and Trowers & Hamlins will take the lead on HR and employment advice.

Casey McGrath, head of legal at FSCS, said: "We're delighted to announce the results of the procurement process for our new legal panel. The number and quality of applicants made for an exceptionally strong field, which is testament to the quality and impact of FSCS's legal work". 

James Darbyshire, chief counsel at FSCS, said: "Against a backdrop of continued economic volatility and a challenging regulatory landscape, FSCS's role in helping customers get back on track when their financial firms fail has never been more vital. I'm confident we've got the right mix of legal partners to help us deliver an effective compensation service for our customers and levy payers today and in the years ahead."