On 22 April
- FCA published a new webpage on PII cover for financial advisers. It recognises that firms may be concerned about their ability to renew their PII during the Covid-19 crisis, which may impact on their operational resilience. It has been speaking to the market, and believes sufficient cover should be available, and it expects firms to have it. It cannot mandate to insurers what cover they should offer at what cost, but notes the insurers must meet their regulatory obligations. It notes that if it sees renewals are a problem, it will consider how to address this, and says firms should contact it if they are concerned they will not be able to get appropriate cover; and
- FCA has given guidance on its temporary measures for submission of regulatory returns. It is applying an extension for all submissions due up to and including 30 June 2020. The page lists the returns that benefit from a 1 or 2 month extension, and confirms that firms need not submit an Employers’ Liability Register return. But there is no extension for returns that are not listed. FCA has also confirmed there will be no administrative fee for any late returns by SMEs until 30 June;
- UK Finance updated its blog to cover FAQs on the temporary financial relief provisions; and
- Lloyd’s has updated its list of bulletins and notices issued by international regulators.