12 March 2020
As the Coronavirus (Covid-19) outbreak continues to spread, there has been increased focus from financial services regulators around the world on the contingency plans of regulated financial firms. Regulators will expect firms to take all reasonable steps to continue meeting their regulatory obligations and to assess their operational risks, their ability to continue operating and the steps they need to take to serve and support their customers.
This briefing provides a checklist of regulatory considerations as a starting point for regulated financial services firms, including impacts on financial contracts, regulatory requirements and expectations around business continuity planning and operational resilience. These considerations will need to be addressed alongside the employment, tax, data, insurance, general contractual and other issues addressed in our separate briefings (available here).