Tuesday May 12 2020
News Source: Fund Regulation
Focus: General - Fund Regulation
The Financial Services Regulatory Initiatives Forum has launched a new initiative to help financial firms prepare for upcoming regulatory work – the Regulatory Initiatives Grid.
The introduction of the Grid has been brought forward by the Forum to help firms stretched by the impact of coronavirus (Covid-19).
The Forum is comprised of the Bank of England, Prudential Regulation Authority, Financial Conduct Authority, Payment Systems Regulator and Competition and Markets Authority, with HM Treasury attending as an observer member.
The Grid lays out the planned timetable for major initiatives – including the transition from LIBOR and the introduction of financial services legislation to prepare for the end of the EU withdrawal transition period.
It also highlights initiatives that have been cancelled or delayed to ease the burden on financial services firms during the crisis – including the Bank of England’s 2020 annual stress test and a number of consultations.
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