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.

Monday 4th May 2020

United Kingdom

01-MayBOEMinutes of the RTGS renewal programme external advisory body - March 2020
PRAPRA Regulatory Digest - April 2020
FCAFCA seeks legal clarity on business interruption insurance alongside package of measures to help consumers and small businesses
Statement on mortgage prisoners
FCA statement - insuring SMEs: business interruption
Letter to mortgage lenders and administrators managing closed mortgage books
HMTGovernment pledges £16 million to rescue Rugby League
Treasury Direction made by the Chancellor under Sections 71 and 76 of the Coronavirus Act 2020
Bounce Back Loan Scheme: letter from the Chancellor to lenders
Lifetime ISA rules changed to help people whose incomes are affected by Coronavirus
02-MayBOEUpdating the TFSME to reflect HMT’s new Bounce Back Loans Scheme


European Union

02-MayECCoronavirus: rescEU masks delivered to Spain, Italy and Croatia


Republic of Ireland

01-MayCBIResponse to Pearse Doherty TD on Insurance matters during COVID-19 published 1 May 2020
Response to Holly Cairns TD on Mortgage Payment Breaks published 1 May 2020
DPCTips for Avoiding Data Breaches


United States of America

01-MayCFPBConsumer Financial Protection Bureau Report Shows Substantial Decline in Credit Applications in March
DOLU.S. Department of Labor Issues New COBRA Notices for Employee Benefit Plans
NYDFSAmid Ongoing COVID-19 Pandemic, Governor Cuomo Announces Schools and College Facilities Statewide Will Remain Closed for the Rest Of The Academic Year
OCCMarket Risk
02-MayNYDFSSuperintendent Lacewell Announces DFS Issues Emergency Regulation Requiring Insurance Companies to Waive Out-Of-Pocket Costs For In-Network Mental Health Services For Frontline Essential Workers During Covid-19


Canada

01-MayOSFIExpectations on the use of Pillar II capital buffers


Hong KongJapan

01-MayHKIAInsurance Authority office to reopen to the public on 4 May


IndiaJapan

03-MaySEBISEBI Notification on COVID-19 dated May 03, 2020


JapanJapan

01-MayFSAFSA publishes English translation of monthly magazine, Access FSA No.200
FSA publishes Weekly Review No.390
PPCPersonal Information Protection Commission’s view on effective use of contact tracing App to help deal with Coronavirus disease (COVID-19)
BOJEstablishment of "Special Rules for Member Financial Institutions of Central Organizations of Financial Cooperatives to Use the Special Funds-Supplying Operations to Facilitate Financing in Response to the Novel Coronavirus (COVID-19)" [PDF 137KB]


AustraliaJapan

01-MayOAICReboot your privacy this Privacy Awareness Week


Note: Key Updates as of 8:00am Monday 4th May 2020