MyComplianceOffice Blog

At the beginning of the Covid-19 crisis, the FCA released a statement, where the regulator has shown its concerns regarding companies’ capacity to fight against market abuse considering the context of new working conditions. Earlier, the FCA’s Executive Director of Enforcement and Market Oversight at the FCA, Mark Steward gave a speech on market integrity and how the regulator has been approaching and investigating market abuse cases.

The FCA has stated that a primary focus in 2020 is to mitigate the impact of Covid-19 on the markets and protect consumers. However, firms should not think that means that the regulator will adopt a light approach to current investigations and regulatory enforcement.

The FCA have been highlighting that firms are failing to implement various recommendations in their PAD policies and controls to meet regulatory requirements and avoid market abuse. In order to prevent personal account dealing, firms should ensure preparation for the FCA’s requirements.

In this period of uncertainty and pressure on firms, regulators around the world have been quickly changing their strategies to support firms, so they all can manage the situation at best.

You might have asked yourself “what governance expectations do regulators have?”. Well, regulators seek good governance and deem it critical that businesses deliver effective management to support and strengthen compliance. Regulators understand that firms affected by the COVID-19 crisis must adapt and review their actual governance, as necessary.