FCA has updated its website in respect of funds and Covid-19. It has added sections on:
- its flexibility around statements on 10% portfolio value reporting – which is the same as for retail business as outlined by FCA on 31 March;
- the circumstances in which firms can use repo transactions for liquidity management purposes within UCITS and NURS schemes (generally, this is unlikely to be possible);
- a reference to its guidance on CASS compliance; and
- the need to consider alternative means where physical or paper-based processes are no longer possible.