{"id":4819,"date":"2020-04-13T08:28:07","date_gmt":"2020-04-13T08:28:07","guid":{"rendered":"https:\/\/lgca.uk\/?p=4819"},"modified":"2020-04-13T08:40:13","modified_gmt":"2020-04-13T08:40:13","slug":"what-are-watchdogs-up-to-during-covid-19","status":"publish","type":"post","link":"https:\/\/lgca.uk\/el\/what-are-watchdogs-up-to-during-covid-19\/","title":{"rendered":"What are watchdogs up to during COVID-19?"},"content":{"rendered":"<p class=\"has-large-font-size\"><strong>What are watchdogs up to during COVID-19?<\/strong><\/p>\n\n\n\n<p>Global regulatory response to the COVID-19 turmoil is heavily dominated by relief packages offered to the financial sector in an attempt to help mitigate the impact of the pandemic and the aftermath it may have on the industry.<\/p>\n\n\n\n<p><em><strong>ESMA: New Tick-Size Regime Postponed<\/strong><\/em><\/p>\n\n\n\n<p>On March 20th ESMA, the European financial\nmarkets watchdog issued a Public Statement &#8211; among other measures &#8211; to support\nthe severely affected sector.&nbsp; This Statement\npostponed the application of Article 17a of MiFIR which regulates the tick-size\nregime for Systematic Internalisers, from 26th March to 26th June 2020.&nbsp; This was done to avoid the creation of\n\u201cunintended operational risks for EU market participants in the current market\nsituation in the context of the increasing spread of the COVID-19 pandemic\u201d.<\/p>\n\n\n\n<p><em><strong>FCA to Keep Markets \u201cOpen and Orderly\u201d<\/strong><\/em><\/p>\n\n\n\n<p>In the UK, the FCA also has addressed most\nof pressing issues, demonstrating its strong commitment to \u201ckeeping capital\nmarkets open and orderly\u201d. Measures that the FCA has put in place include\nlaxing client identity verification, best execution and deprecation\nnotification requirements for firms working with retail investors, modifying\nthe reporting timetable for listed companies with a two-month extension of the\ndeadline for the publication of audited annual financial reports. It has also\nsuspended most of its regulatory change activity. <\/p>\n\n\n\n<p><em><strong>SEC: Focus on Market Integrity, Continuing Operation, and Investor Protection<\/strong><\/em><\/p>\n\n\n\n<p>Across the ocean where the pandemic is\nescalating rapidly, SEC is taking concerted action with the Federal Reserve,\nthe Department of the Treasury and other government agencies to ensure,\naccording <\/p>\n\n\n\n<p>to SEC Chairman\u2019s Jay Clayton Statement of\n20th March 2020, that \u201ccapital markets remain open and function well,\nconsistent with evolving health and safety directives and other measures\u201d.<\/p>\n\n\n\n<p>Keep up to date with regulatory developments,\nrelief measures and what this means to you by <a href=\"https:\/\/lgca.uk\/el\/blog\/\">following\nLGCA\u2019s Blog.<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>What are watchdogs up to during COVID-19? Global regulatory response to the COVID-19 turmoil is heavily dominated by relief packages offered to the financial sector in an attempt to help mitigate the impact of the pandemic and the aftermath it may have on the industry. ESMA: New Tick-Size Regime Postponed On March 20th ESMA, the [&hellip;]<\/p>","protected":false},"author":1,"featured_media":4820,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","inline_featured_image":false},"categories":[55],"tags":[71,76,75,68,73,69,70,74,72],"_links":{"self":[{"href":"https:\/\/lgca.uk\/el\/wp-json\/wp\/v2\/posts\/4819"}],"collection":[{"href":"https:\/\/lgca.uk\/el\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lgca.uk\/el\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lgca.uk\/el\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lgca.uk\/el\/wp-json\/wp\/v2\/comments?post=4819"}],"version-history":[{"count":0,"href":"https:\/\/lgca.uk\/el\/wp-json\/wp\/v2\/posts\/4819\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lgca.uk\/el\/wp-json\/wp\/v2\/media\/4820"}],"wp:attachment":[{"href":"https:\/\/lgca.uk\/el\/wp-json\/wp\/v2\/media?parent=4819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lgca.uk\/el\/wp-json\/wp\/v2\/categories?post=4819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lgca.uk\/el\/wp-json\/wp\/v2\/tags?post=4819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}