March 5, 2021

Volume XI, Number 64

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March 05, 2021

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March 04, 2021

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March 03, 2021

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FCA Updates COVID-19 Webpage With Guidance on Market Trading and Reporting

On January 8, the UK’s Financial Conduct Authority (FCA) updated its webpage providing information for firms relating to COVID-19 (the Webpage).

The Webpage notes that the FCA’s key considerations include:

  • expecting firms to take reasonable steps to address the challenges caused by the pandemic on their customers, staff and business continuity plans;

  • encouraging transparency between firms and their consumers;

  • requiring firms to take all steps to prevent market abuse risk, including implementing enhanced monitoring and submitting regulatory data without undue delay; and

  • maintaining a record of all relevant communications (including voice calls) while working outside of the office.

On this final point, the FCA further addresses its expectations for firms on recording telephone conversations and electronic communications in the 66th edition of its Market Watch Newsletter, published on January 11.

The FCA advises firms with concerns about meeting their obligations due to the COVID-19 pandemic to contact the FCA through their regulatory supervisory channels as soon as possible.

See the FCA COVID-19 Webpage.

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©2020 Katten Muchin Rosenman LLPNational Law Review, Volume XI, Number 15
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About this Author

Carolyn H. Jackson, International Attorney, Katten Muchin law firm
Partner

Carolyn Jackson is a partner in Katten Muchin Rosenman UK LLP and is a Registered Foreign Lawyer. She provides US financial regulatory legal advice to a broad range of market participants, including commercial banks, investment banks, investment managers, broker-dealers, electronic trading platforms, clearinghouses, trade associations and over-the-counter derivatives service providers.

Carolyn guides clients in the structuring and offering of complex securities, commodities and derivatives transactions and in complying with US securities and commodities laws...

+44 0 20 7776 7625
Nathaniel Lalone, Katten Muchin Law Firm, Financial Institutions Attorney
Senior Associate

Nathaniel Lalone, a partner at Katten Muchin Rosenman UK LLP, has a broad range of experience in the regulation of financial products and financial markets, and frequently provides regulatory and compliance advice to trading venues, clearing houses and buy-side firms active in the over-the-counter (OTC) derivatives, futures and securities markets. He is actively involved in advising clients on the implementation of MiFID 2 and MiFIR in the European Union as well as the international reach of US financial services regulation. He also has significant experience with structuring...

+44 0 20 7776 7629
Neil Robson, private equity fund managers counselor, Katten Law Firm, London
Partner

Neil Robson, a regulatory and compliance partner with Katten Muchin Rosenman LLP, focuses his practice on counseling hedge and private equity fund managers and other investment advisers on operational, regulatory and compliance issues. He regularly addresses Financial Conduct Authority (FCA) and EU authorization and compliance under both the EU Alternative Investment Fund Managers Directive (AIFM Directive) and MiFID, cross-border issues in the financial services sector, market abuse, anti-money laundering and regulatory capital requirements, formations and buyouts of...

44-0-20-7776-7666
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