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SM&CR – The Regulators’ Expectations of Firms

[fa icon='calendar'] 08-Apr-2020 15:05:20 / by Jamie Cooke posted in E-money, FCA, Payment services, Covid 19

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The FCA last week published a statement in which they set out their expectations of solo-regulated firms operating under the ongoing strain of COVID-19. While emphasising the need for ever-adaptive governance arrangements in the face of an evolving challenge, the FCA have clarified that no single Senior Manager is expected to assume responsibility for a firm’s coronavirus response. In addition to this and regarding dual-regulated firms, a joint statement released by the FCA in collaboration with the PRA demonstrated the regulators’ intention to assume a more flexible approach under the current circumstances.

 

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FCA issues statement on Covid-19

[fa icon='calendar'] 18-Mar-2020 16:54:52 / by Jamie Cooke posted in FCA, Payments sector, E-money sector, Covid 19

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In response to the Covid-19 situation, which saw many UK financial institutions enacting their contingency plans, the FCA issued a statement yesterday setting out their expectations on firms.   

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