Following a rigorous six-month procurement exercise, Burges Salmon has been appointed by the Financial Services Compensation Scheme (FSCS) to its second legal panel.
The legal panel will play a key role in helping FSCS drive forward its strategic aims. Burges Salmon has been appointed to provide core legal services and will continue providing FSCS with a range of services as part of the panel, which will last for four years.
Kari McCormick, head of the Financial Services sector group at Burges Salmon and client partner for FSCS, says: “Having been appointed to the first FSCS legal panel in 2015, we are delighted to have been reappointed to its second panel. We look forward to continue working with the FSCS team to help them deliver their strategic priorities over the next few years.”
FSCS protects customers of financial firms that have failed. Articulating its strategy (FSCS into the 2020s: Protecting the future), FSCS’ mission is to provide a trusted compensation service for consumers that raises public confidence in the financial services industry. Since 2011, FSCS has paid over £60 million to people who have made a claim, recovered £20 billion from the 2008 bank failures and repaid all £20.5 billion borrowed from HM Treasury that year. FSCS is funded by financial services firms.