News Article

Debt Collection

FCA authorisation boost for Shoosmiths debt recovery

By CreditMan Thursday, June 23, 2016

National law firm Shoosmiths has been authorised by the Financial Conduct Authority (FCA), to provide the full range of regulated debt recovery legal services.

Shoosmiths’ award winning Recoveries Service Group (RSG), has been granted FCA permission to carry out the regulated activities of debt administration, debt collection and mortgage administration. As a major national provider of legal services to the finance sector, Shoosmiths has also obtained authorisation for a wide range of non-mainstream regulated financial services activities. This will allow Shoosmiths to provide all encompassing strategic legal support to its clients within the financial services sector.

Waine Mannix, partner and head of RSG at Shoosmiths, said: ‘Obtaining these permissions from the FCA is key to realising our vision of becoming the leading recoveries litigation operation in the UK. As an existing market leader in recoveries for lenders and debt purchasers, it was natural that we should seek authorisation in all three categories in order to provide the full range of recoveries services to our lender and debt purchaser clients.’

The firm was recently awarded ‘Legal Provider of the Year 2016’ at the Motor Finance Awards and ‘Litigation Team of the Year’ at the Credit Today Awards 2015. Shoosmiths is also ranked in the top tier for recoveries services across the East and West Midlands, London, Manchester and the South East by the Legal 500 directory.

Shoosmiths’ RSG is a leading advisor in the provision of recoveries litigation to lenders and debt purchasers in the UK. It provides a complete range of debt recovery services utilising cutting edge technology with specialists dealing with all debt types, operating under a centralised management structure and within a national conduct risk and operating framework.