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 8th April 2020

United Kingdom

CMAConstruction products merger raises competition concerns
FCABusiness Plan 2020/21
CP20/6: FCA regulated fees and levies: Rates proposals 2020/21
FCA sets out priorities for 2020/21
PSRSupplier relief due to Covid-19


Isle of Man

IOMFSAArrangements for submission of Audited Financial Statements and Annual Compliance Returns in response to Covid-19 (Press Release)


Republic of Ireland

CBI“Central Bank actions will contribute to easing the economic impact of the pandemic” - Governor Gabriel Makhlouf
No.1 Releasing the CCyB to support the economy in a time of stress (Denora, O'Brien and O'Brien)


European Union

ECState aid: Commission approves €1 billion Greek scheme providing repayable advances to support the economy in the coronavirus outbreak
Coronavirus: EU Medical Teams deployed to Italy
ECBDecision of the ECB of 7 April 2020 amending Guideline (EU) 2015/510 on the implementation of the Eurosystem monetary policy framework and Guideline (EU) 2016/65 on the valuation haircuts applied in the implementation of the Eurosystem monetary policy fra
ECB announces package of temporary collateral easing measures
EUPARLBanking Union: Corona crisis effects - 2020 / week 15


Germany

BaFinIOSCO unterstützt einheitliche Anwendung von Rechnungslegungsstandard IFRS 9


France

AMFCOVID-19: clarifications on the accounting implications for the calculation of expected credit losses


Belgium

BNBLa Banque nationale appelle les assureurs à suspendre temporairement leurs distributions de dividendes


Switzerland

FINMAThe Swiss Financial Market Supervisory Authority FINMA is publishing further guidance with information for supervised institutions about exemptions and clarifications related to its supervisory practice in the context of the COVID-19 crisis.


United States of America

CFPBAgencies Issue Revised Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus
CFTCCFTC to Hold an Open Commission Meeting on April 14
FDICFIL-36-2020 Revised Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus
FERCFERC, NARUC Support Utility Industry’s Needs for Credit Financing
FRBAgencies issue revised interagency statement on loan modifications by financial institutions working with customers affected by the coronavirus
NYDFSDFS Obtains Relief for Approximately 300,000 NY Student Loan Borrowers Not Covered by Federal Cares Act
Amid Ongoing Covid-19 Pandemic, Governor Cuomo Announces State Will Invest in Private Companies to Bring Rapid Testing To Scale
OCCAgencies Issue Revised Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus
Bank Secrecy Act/Anti-Money Laundering
Troubled Debt Restructurings
SECSEC Office of Compliance Inspections and Examinations Publishes Risk Alerts Providing Advance Information Regarding Inspections for Compliance with Regulation Best Interest and Form CRS 


India

SEBIFinal Order in the matter of OCD issue by Neesa Technologies Ltd.


Singapore

MASMAS Takes Regulatory and Supervisory Measures to Help FIs Focus on Supporting Customers


Hong Kong

HKMACoronavirus disease (COVID-19) and Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) measures (For AIs)
Coronavirus disease (COVID-19) and Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) measures (For SVF Licensees)


Philippines 

BSPInflation Eases Further to 2.5 Percent in March
SECPSEC LENDS MORE SUPPORT TO FIGHT AGAINST COVID-19


AustraliaJapan

APRAAPRA issues guidance to authorised deposit-taking institutions and insurers on capital management


New Zealand

RBNZExpanded Large Scale Asset Purchases


Global / International

OECDTackling the coronavirus: OECD Forum on Tax Administration publishes advice on business continuity considerations for tax administrations


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