| UK & Europe | Publications
NEWSLETTER: As summer fades, the prospect of further Covid-19 restrictions blows a cold wind over an economy struggling to emerge from the lockdown. This month there is a modicum of relief for firms hoping to make an insurance claim for Business Interruption. The High Court has now issued its guidance following the FCA’s test case.
Covid-19 aside, the business of regulating firms goes on relentlessly. Autumn heralds new reporting obligations for asset managers under the EU’s Sustainable Finance Disclosure Regulation as well as a potential expansion to the number of firms required to submit annual financial crime returns (REP-CRIM). More generally we are seeing a significant number of skilled person reports being required by the regulators as well as a sustained focus on client money requirements.
Our recent survey on the new prudential regime suggests that over 1000 firms may be disadvantaged by the new requirements. If you’re not yet on top of what this means for you feel free to give us a call.
And finally, a small piece of good news from the US, where the SEC seems to have resolved its concerns around GDPR and is now licensing EU firms once again.
