Regulation Round Up - April 2020

Given the current impact of COVID-19 on the financial services industry, please tune in to our podcast discussion on the key considerations that businesses should be aware of while facing potential insolvency and other challenges caused by the pandemic.

30 April

The Bank of England and PRA published a joint statement, and the FCA published a statement, on the proposed use of the UK financial services regulators' temporary transitional power at the end of the Brexit transitional period.

The PRA published a policy statement on group availability of subordinated liabilities and preference shares under the Solvency II Directive (2009/138/EC) (PS10/20). The FCA published a press release announcing a six-month extension to the deadline for firms' implementation of strong customer authentication for e-commerce under the Payment Services Regulations 2017, in light of Covid-19.