Independent UK law firm Burges Salmon has been reappointed to provide core legal services on the Financial Services Compensation Scheme (FSCS) legal panel.
FSCS is the UK's financial compensation scheme that protects customers of authorised financial services firms if they fail, playing an integral and unique role in the UK’s financial services regulatory structure.
The legal panel will play a key role in helping FSCS drive forward its strategic aims. Burges Salmon has been tasked with providing core legal services and will continue providing FSCS with a range of services as part of the panel, which will last for three years, with an option for FSCS to extent the appointment for a further 12 months.
Suzanne Padmore, partner in our Financial Services disputes team and client partner for FSCS, says: “Having last been appointed to the FSCS legal panel in 2019, we are delighted to have been reappointed to its 2023 panel. We look forward to continuing to work with the FSCS team to help them deliver their strategic priorities over the next few years.”
Casey McGrath, Head of Legal at FSCS said: “We’re pleased to announce that Burges Salmon is among the eight law firms invited to make up the FSCS legal panel from January 2023. 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.”
Notes to Editors:
About the Financial Services Compensation Scheme (FSCS)
FSCS is the UK's financial compensation scheme that protects customers of authorised financial services firms if they fail or have stopped trading. FSCS protects:
- Banks, building societies and credit unions
- Investments
- Pensions
- PPI
- Debt management
- Endowments
- Mortgage advice
- Insurance
- Funeral plans
FSCS is independent and can pay compensation if an authorised firm fails and is unable to pay back money it owes its customers. FSCS’s service is completely free to use and is funded by a levy on firms authorised by the Financial Conduct Authority and Prudential Regulation Authority.
Find out more about FSCS at www.fscs.org.uk.