Search

  • 1 min read

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

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.

References:

Send us a message