The COVID-19 situation is complex and fast-moving, resulting in an extremely challenging environment to navigate. This daily regulatory intelligence bulletin, powered by RegHub and Corlytics, aims to provide a summary of regulatory developments relating to COVID-19. More information on how COVID-19 might impact your firm is available here.

Wednesday 1st April

United Kingdom

FCADear CEO Letter to firms providing services to retail investors about coronavirus (Covid-19)
HMTChancellor waives duties and VAT on vital medical imports
PRAPRA statement on deposit takers’ approach to dividend payments, share buybacks and cash bonuses in response to Covid-19
PSRPayment Systems Regulator publishes Annual Plan and Budget for year 2020/21
UK FinanceContactless limit in UK increases to £45 from today


European Union

EBAEBA provides additional clarity on measures to mitigate the impact of COVID-19 on the EU banking sector
ESMAESMA provides clarifications for best execution reports under MiFID II
Clarification of issues related to the publication of reports by execution venues and firms as required under RTS 27 and 28


Republic of Ireland

CBIStatement: Essential Services


Germany

BaFinESMA verlängert Bewerbungsfrist für die Interessengruppe Wertpapiere und Wertpapiermärkte
BBKBankstellenentwicklung im Jahr 2019
German general government debt down in 2019 by €16 billion to €2.05 trillion – debt ratio down from 61.9% to 59.8%  (English)Deutsche Staatsschulden 2019 um 16 Mrd Euro auf 2,05 Billionen Euro gesunken – Schuldenquote von 61,9 % auf 59,8 %(German)


Italy

BDI55 milioni il totale stanziato dalla Banca d'Italia per l'emergenza coronavirus
Relazione del Governatore Ignazio Visco


France

AMFContinuité des activités de gestion en période de Coronavirus – L’AMF accompagne les acteurs


Switzerland

FINMAIn FINMA Guidance 02/2020, the Swiss Financial Market Supervisory Authority FINMA provides the banks with clarifications for dealing with the COVID-19 credits with federal guarantees ...


United States of America

CFTC20-12 No-action position for foreign brokers exempt pursuant to Commission regulation 30.5 to handle U.S. futures market orders in response to the COVID-19 pandemic
CFTC Provides Further Relief to Market Participants in Response to COVID-19
DOTTreasury Encourages Businesses Impacted by COVID-19 to Use Employee Retention Credit
Treasury Delays Tax and Reporting Due Dates for Alcohol, Tobacco, Firearms and Ammunition Businesses Hit by COVID-19
Treasury Releases Guidance on Payroll Support to Aid Airline Industry Employees, and on Loans to Airline Industry and Businesses Critical to National Security, Pursuant to CARES Act
With $349 Billion in Emergency Small Business Capital Cleared, Treasury and SBA Begin Unprecedented Public-Private Mobilization Effort to Distribute Funds
FDICStandardized Approach for Calculating the Exposure Amount of Derivative Contracts 12 CFR Part 324 RIN 3064–AF43 Notice Effective Date: March 31, 2020
Regulatory Capital Rule: Revised Transition of the Current Expected Credit Losses Methodology for Allowances 12 CFR Part 324 RIN 3064–AF42 Interim final rule with request for comments. Effective Date: March 31, 2020 Comment Period End: May 15, 2020
FIL-32-2020 Joint Statement on the Interaction of the CECL Revised Transition Interim Final Rule with Section 4014 of the Coronavirus Aid, Relief, and Economic Security Act
FRBCA 20-6 Home Mortgage Disclosure Act (HMDA) Quarterly Reporting during the COVID-19 Pandemic
Joint Statement on Interaction of the Regulatory Capital Rule: Revised Transition of the CECL Methodology for Allowances with Section 4014 of the Coronavirus Aid, Relief, and Economic Security Act
OCCRegulatory Capital
SECSEC Small Business Advocate to Host Virtual Coffee Breaks Discussing Small Business Capital Raising
SEC Announces Ad Hoc Meeting of Small Business Capital Formation Advisory Committee in Response to COVID-19 Challenges Faced By Small Businesses


Canada

IIROCCOVID-19 Related Exemptions from IIROC Rules
OSFIOSFI offers technical briefing for media on recent regulatory announcements related to COVID-19


International / Global

OECDPlatform for Collaboration on Tax: International organisations move to help developing countries improve tax systems


Note: Key Updates as of 8:00am Wednesday 1st April 2020