The Coronavirus (COVID-19) Pandemic: A Summary of FCA Guidance & Regulatory Developments in the EU’s Investment Services and Capital Markets Sectors
The FCA has issued the following guidance to the financial services industry regarding the response that FCA expects firms to take in response to the Coronavirus (COVID-19) pandemic. The FCA […]
FCA launched a COVID-19 webpage
While closely monitoring the coronavirus situation, the Financial Conduct Authority (FCA) has launched a new webpage that will be providing significant resources to UK regulated firms and FCA’s colleagues. The […]
Delays to corporate reporting
In response to the current situation, the FCA, the Financial Reporting Council (FRC), and the Prudential Regulation Authority announced a series of actions to ensure the continued functioning of capital […]
Delay to launch of the directory for certified and assessed persons
As part of the SM&CR, banks, building societies, credit unions and insurance companies had to submit their directory persons data by 9 March 2020 which was then due to be […]
Financial Services firms are expected by FCA to have carried out risk assessments and to have risk mitigation plans in place
The FCA Senior Management Systems and Controls rules (“SYSC”) require firms to have robust plans to identify and mitigate risks, including Disaster Recovery Plans (“DRP”) and Business Continuity Plans (“BCP”). […]
FCA Guidance on Key Workers in Financial Services
The FCA issued guidance on Friday 20 March 2020 regarding whether a person working in a financial services firm may be a Key Worker. The government has imposed restrictions such […]
FCA Capital Adequacy Guidance for Solo Regulated Firms
The FCA issued a statement warning that firms must plan ahead and ensure sound management of their financial resources in the face of the threats from Coronavirus. Whilst the FCA […]
FCA orders supervisory flexibility over 10% MiFID rule
In light of the COVID-19 outbreak the FCA has announced a flexible approach on enforcing breaches of the requirement to notify clients of a 10% depreciation in value of their […]
EU Regulatory Developments in response to COVID-19
Net short position ban and lowering of notification threshold for net short positions Extreme adverse circumstances that constitute a serious threat to market confidence and financial stability have prompted a […]
FCA publishes the number of STORs received in 2019
The FCA has recently published a report with figures of suspicious transaction and order reports (STORs) received in 2019, pointing out the importance of high-quality STORs in the process of […]