The Financial Conduct Authority
UK Financial Watchdog Delays Legal Panel
It follows the same move by BT, which last month delayed its new panel announcement due to the impact of the COVID-19 pandemic.
April 15, 2020 at 05:35 AM
2 minute read
The Financial Conduct Authority (FCA) has delayed the announcement of its refreshed legal services roster.
The U.K. financial watchdog kicked off the tender process in January and the panel was expected to take effect from June.
The new panel will be in place for four years, with an option to extend for up to 12 months. The services are split into two lots, with one focusing on public sector law and the other on corporate and commercial legal services.
The original announcement was expected in mid-April, with the FCA having shortlisted a smaller group of firms in March, according to somebody with knowledge of the process.
The person added that the delay "probably won't be a surprise" and that the rough date is now expected to be in mid-May.
The news comes as businesses refocus efforts due to the impact of COVID-19. Last month, Legal Week revealed that BT had pushed back its panel announcement to April, as well as reporting that several firms had been cut including Fieldfisher, CMS and Osborne Clarke.
|Read More:
BT Cuts Firms From UK Panel as Virus Delays Line-Up Announcement
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