FSCS overhauls legal function

The Financial Services Compensation Scheme (FSCS) has expanded its in-house legal team with a raid on Eversheds following a shake-up of its internal function.


The Financial Services Compensation Scheme (FSCS) has expanded its in-house legal team with a raid on Eversheds following a shake-up of its internal function.

Eversheds senior associate James Darbyshire will join the FSCS in late September as senior counsel responsible for management of the in-house legal team. He will report to general counsel Alex Kuczynski.

The FSCS oversees the UK’s statutory compensation fund for authorised financial services firms.

The hire comes after an internal reorganisation of the FSCS’s legal function following the appointment of former Financial Services Authority senior enforcement lawyer Loretta Minghella as chief executive of the FSCS last year.

Kuczynski has subsequently been promoted from head of legal to general counsel with additional responsibilities for the company secretary and the quality assurance and internal audit teams.

Darbyshire will take over responsibility for the legal team’s day-to-day operations, freeing up Kuczynski to focus on board level and regulatory issues.

Kuczynski said the legal team, which also comprises two other lawyers and a paralegal, covers advice on claims for compensation and claims to recover the costs of compensation paid by the FSCS.

The team also contributes to the regulatory developments affecting financial services compensation, both in the UK and Europe.