FCA guidance for funds in light of coronavirus (COVID-19)

  • 1 min read

Main points of the FCA guidance include:

- Firms may delay publishing annual and half-yearly fund reports;

- The FCA does not have supervisory concern on firms holding general meetings of fund unit-holders in a virtual format, save, subject to private law obligations and provisions under fund documentation;

- Firms are expected to ensure compliance with limits on value at risk (VaR) as part of their risk-limit systems and should speak to their supervisory contacts if they have difficulties in doing so; and

- The FCA is willing to accept electronic signatures on applications to authorise funds or approve changes to funds during the coronavirus crisis and the applicant may validate accompanying documentation electronically.


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