Capsticks Solicitors, Bevan Brittan, Russell-Cooke, Field Fisher Waterhouse and Devonshires have all won places on the panel. The SRA said the panel replaces a previous arrangement where it instructed lawyers on a case-by-case basis.
The appointed firms, who went through a tender process, will be tasked with dealing with matters relating to contested interventions; judicial reviews; regulatory appeals; recovery litigation and regulatory advice.
SRA chief executive Antony Townsend said: “The firms selected had to show their expertise and act as a coordinated team when dealing with large and complex cases as well as satisfying us on their commitment to equality and diversity principles.”
The five firms will sit on the panel for three years.