Bermans one of first firms in the UK to be awarded FCA approval
North West law firm Bermans has secured authorisation for its operations from the Financial Conduct Authority (FCA), one of the first law firms to do so in the UK.
Any business offering financial services or advice is regulated by the FCA, formerly the Financial Services Authority (FSA).
Partner and head of litigation Nick Harvey explains:
“Following the banking crisis the FCA has set about ensuring businesses in the financial sector have in place stringent policies and procedures to protect customers.
“We are nationally renowned for our niche invoice and asset finance offering and act for a number leading industry manufacturer motor finance providers. For us to continue to operate in this sector it was important for us to move swiftly to gain this accreditation. It has been a tough process but as a business we feel that it has been a huge benefit because it’s given us a real competitive edge. It is also important to review, refresh and revitalise internal policies to ensure that our clients receive the best possible service.
“The FCA authorisation comes on the back of a strong 12 month period for the finance and litigation teams. We have secured two new significant client wins that will involve bulk referral of collections and recoveries work. Further, we increased our departmental turnover by 20 % on the previous year’s figures.We also added strength and depth to the litigation team which included the addition of Jonathan Berkson, Liverpool Law Society’s Lawyer of the Year in 2013 and IP specialist Steve Kuncewicz. The team now has an enhanced skill set and real pedigree and capacity for handling a broad range of commercial litigation disputes.Our growth looks set to continue in 2015. We are already in the final stages of several tenders which will we are confident will further boost our client base.”
Bermans litigation team provides advice in a range of areas including all aspects of finance, business and personal dispute resolution, property and construction, IP and copyright infringement, and debt recovery.