The FCA has now issued two statements on the SM&CR outlining its expectation for firms during the Covid-19 pandemic, writes Chris Davies, who takes a brief run through the current regulatory climate
The FCA and Prudential Regulatory Authority (PRA) have released a joint statement for dual regulated firms outlining its expectation for firms during the Covid-19 pandemic. The FCA have also released a statement on solo regulations showcasing a flexible approach. Here, though, I will cover the FCA statement on expectations for solo-regulated firms: 1. Senior Management Responsibilities: In relation to risk responsibilities, senior managers should now consider: Where the current situation might lead to emerging risks How it effects existing risks along with controls used to m...
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