Business partners Jo Davis and Daksha Mistry have launched Auxillias – a specialist legal and compliance firm for consumers in the consumer, motor and asset finance sector.
“Our clients have always expressed that they would like to be able to have legal and regulatory compliance support all in one place,” said Davis. “Our vision was to create a market-leading specialist legal and compliance law firm bringing advisory, consultancy, regulatory and training support services to its clients within these specialist sectors, all under one roof.”
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Auxillias specialises within the consumer credit and FCA financial services sector, with up-to-date practical experience of how to implement its legal and regulatory advice into a large number of banks and financial institutions.
Mistry said: “Clients want their advisers to not just give advice but to support them with implementing advice into their operations. We are not just lawyers providing legal, regulatory and compliance support – we also provide day to day advisory, consultancy and training support to our clients to provide all-round solutions.”
The company went live in May 2020 and has since advised and assisted banks and financial institutions to implement numerous FCA requirements across all three specialist industries. The firm supports the drafting and implementation of policies and procedures to ensure that their clients meet regulatory requirements as well as carrying out regulatory reviews, whether this be their standard annual audit or initiated by the FCA.
Auxillias are building a team of qualified lawyers and specialist compliance consultants from legal, regulatory and industry backgrounds, while plans are in place to collaborate with a large UK law firm to provide other services to our clients.
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By GlobalDataDavis said: “We want our lawyers and consultants that work for Auxillias to have a high level of knowledge and experience working in this sector and we are proud of how far we have come already with building a strong team of advisors that we know work well with our clients.”
Daksha added: “Recently we have been supporting our clients with a number of changes such as the implementation of the FCA temporary payment relief guidance, the interpretations and implementation of the new commission models in motor finance and the drafting of the new commission disclosure statements across the consumer credit sectors in readiness for the January 2021 deadline.
“We are also actively assisting and supporting clients with the build of various online platforms so that the customer can buy their car and finance online, as well as assisting with the build of some new unsecured credit online platforms.”
Davis has significant experience at partner level, previously running the consumer and asset finance division for a number of law firms. Her expertise ranges from consumer credit advisory and transactional matters, through to financial services regulation and compliance, including compliance with the FCA handbook and Consumer Credit Sourcebook implementation. She also assists clients and advises on contentious matters such as asset and motor finance asset recoveries, finance litigation and dispute resolution.
Mistry has worked within the banking & financial services for more than 20 years, working for several major law firms in the UK, and also as an in-house solicitor at GE Capital. For the last seven years, Mistry has been a consultant, supporting various high street banks and financial institutions. She has also worked within the asset finance energy sector as a mediator for the Ombudsman Services.
Auxillias has also announced the launch of its website, where visitors can learn more about the company’s services. The site will be regularly updated with articles, newsletters and white papers on developments in the finance industry.
