FCA consultation on proposed guidance for payments firms: COVID-19 and safeguarding customer funds

After highlighting payment services as a priority in its 2020/21 business plan and following “evidence that some firms have not implemented the Electronic Money Regulations 2011 or Payment Services Regulations 2017 as [the FCA] expects”, the FCA has published a short consultation proposing further guidance for Payment Services Providers (PSPs), including Payment Institutions (PIs) and … Read more

COVID-19: Webinar series: Legal perspectives for business

We are pleased to invite you to our weekly webinar series discussing the business challenges presented by the COVID-19 outbreak. The third webinar, entitled, ‘People: the challenges being faced’, will be broadcast on 7 April 2020 and will focus on a number of the key issues currently being faced by UK employers, as well as … Read more

PRA and FCA publish guidance on key workers in financial services

On 19 March, the UK Government published guidance requesting that schools and other educational institutions provide limited care for children whose parents have roles that are critical to the COVID-19 response. This includes parents working in certain financial services roles that are essential to the functioning of the economy (referred to as “key financial workers” … Read more

FCA publishes information for firms on COVID-19

The FCA has published information for firms on COVID-19. Communication with the FCA will be key as the situation evolves, and we recommend that firms regularly monitor the FCA’s website for news and developments. Firms are expected to: take reasonable steps to ensure they are prepared to meet the challenges coronavirus could pose to customers … Read more