It comes as no surprise that there have been many announcements relating to the impact of Covid 19 since our last update here. These include:
- Temporary changes and a “softening” of the UK Senior Managers and Certifications Regime(SM&CR), as announced by the FCA here and discussed on the FT Advisory site here.
- An extension to the response deadline for the consultation run by the European Commission on MiFID II here.
- A delay to the final stages of the Uncleared Margin Regulation(UMR), announced here by the Bank of International Settlements.
This article on The OTC Space by Chetan Joshi looks at the “regulatory bottleneck” that is currently being built up by the delay to the UMR and others. This article on the Securities Lending Times also looks at the impact of delays.
It is likely that such announcements will continue over the next weeks.