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.
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.