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 11th May 2020 (including updates from 7th May onwards)

United Kingdom

07 MayBOEBank Rate maintained at 0.1% - May 2020
Statement by the Bank of England and Prudential Regulation Authority on resolution measures and Covid-19
The Financial Services Regulatory Initiatives Forum launches Grid to help financial firms’ planning
PRAStatement by the PRA on conversion of Pillar 2A capital requirements from RWA percentage to nominal amount
Statement by the Prudential Regulation Authority on prioritisation in light of Covid-19
FCAThe Financial Services Regulatory Initiatives Forum launches Grid to help financial firms’ planning
Letter to Financial Ombudsman Service regarding complaints handling during coronavirus pandemic
Letter: Financial Ombudsman Service reply to the FCA regarding complaints handling during coronavirus pandemic
CMACMA consults on BA and American Airlines commitments
ICOICO statement on Adtech work
PSRThe Financial Services Regulatory Initiatives Forum launches Grid to help financial firms’ planning
UK FinanceLenders provide £5.5 Billion to SMEs through CBIL scheme
Cash ISA Transfer Performance – Q1 2020
08 MayUK FinanceLenders offer hundreds of thousands of customers payment holidays on credit cards and personal loans


European Union

07 MayECState aid: Commission approves €7.3 million Czech scheme to support research and development activities related to coronavirus outbreak
Remarks by Executive Vice-President Dombrovskis at the press conference on the Commission Action Plan to fight against money laundering and terrorist financing
ECBGuideline (EU) 2020/XX of the ECB of 7 May 2020 amending Guideline ECB/2014/31 on additional temporary measures relating to Eurosystem refinancing operations and eligibility of collateral (ECB/2020/29), 7.5.2020.
Luis de Guindos: Presentation of the ECB Annual Report 2019 to the Committee on Economic and Monetary Affairs of the European Parliament (by videoconference)
EUPARLNew Developments in Digital Services
SRBResolution planning cycle 2020: setting a course for financial stability
08 MayECCoronavirus: Commission delivers first batch of 1.5 million masks from 10 million purchased to support EU healthcare workers
Coronavirus Global Response: EU sets up a Humanitarian Air Bridge
ECBSurvey on the Access to Finance of Enterprises: Small businesses report challenging outlook for their access to external financing due to COVID-19
Opinion on a proposal for a regulation on the establishment of a European instrument for temporary support to mitigate unemployment risks in an emergency (SURE) following the COVID-19 outbreak (CON/2020/14), 8.5.2020.
Christine Lagarde: Opening remarks for EUI event
ENISAENISA contributes to a Council of Europe webinar on cooperating with CSIRTs to counter cybercrime 


France

07 MayACPREscroqueries : l’ACPR et la DGCCRF coopèrent et appellent à la plus grande vigilance face à la recrudescence des appels frauduleux aux dons en lien avec le Covid-19
AMFCertification AMF : assouplissements exceptionnels et provisoires dans le contexte du Covid-19
The AMF Ombudsman Publishes Her 2019 Annual Report
Covid- 19 : courrier concernant les SCPI et les OPCI


Belgium

07 MayBNBCirculaire NBB_2020_21 / Orientations de l’ABE (EBA/GL/2020/02) sur les moratoires législatifs et non législatifs sur les remboursements de prêts appliqués en raison de la pandémie de COVID-19


Netherlands

07 MayDNDStatistisch Nieuwsbericht: Ondanks waardeverlies doen Nederlandse beleggers aankopen in door Covid-19 zwaar getroffen Europese landen


Luxembourg

08 MayCAACommuniqué de presse du Commissariat aux Assurances (1er trimestre 2020)


Switzerland

07 MayFINMAFINMA Guidance 05/2020


United States of America

07 MayCFTCStatement of Commissioner Dan M. Berkovitz on Recent Trading in the WTI Futures Contract before the Energy and Environmental Markets Advisory Committee Meeting
DOTStatement by Treasury Secretary Steven T. Mnuchin on the Selection of Louis DeJoy to Serve as Postmaster General
FERCFERC Provides Accounting Guidance to Ease Administrative Burdens; Shortens Comment Period for Federal Power Act Section 204 Filings
08 MayFDICFIL-54-2020 Interagency Policy Statement on Allowances for Credit Losses
FERCFERC Update on Building Status
Notice Concerning All Permitted Hard Copy Submissions
FERC Provides Guidance to Oil Pipelines During COVID-19 Emergency
OCCCurrent Expected Credit Losses
SECRemarks at Meeting of the SEC Small Business Capital Formation Advisory Committee


Hong KongJapan

07 MayHKMAResumption of the Coin Cart Services
SFCCircular to licensed corporations Margin requirements for non-centrally cleared OTC derivative transactions


IndiaJapan

07 MaySEBISEBI advises Franklin Templeton mutual fund to focus on returning money to investors


PhilippinesJapan

07 MayBSPBSP-registered foreign portfolio investments yield net outflows in March
08 MaySECPSEC TELLS PUBLIC TO INVESTIGATE BEFORE INVESTING AS SCAMMERS RIDE ON COVID-19 PANDEMIC


ThailandJapan

08 MaySEC-THก.ล.ต. ขอให้บริษัทจัดการลงทุนดูแลลูกจ้างที่นายจ้างเลื่อนหรือหยุดส่งเงิน PVD ชั่วคราว จากผลกระทบ COVID-19


AustraliaJapan

07 MayAPRAAPRA publishes frequently asked questions on loan repayment deferrals and residential mortgage lending
08 MayASIC20-109MR ASIC defers commencement of mortgage broker reforms and design and distribution obligations
20-108MR ASIC obtains asset freezing orders against Melbourne property developer Mudasir Mohammed Naseeruddin and related entities
OAICConsumer Data Right Compliance and Enforcement Policy released


Global / InternationalJapan

07 MayOECDLatin America and the Caribbean: Tax revenue gains under threat amid deteriorating regional outlook


Note: Key Updates as of 8:00am Monday 11th May 2020