Compliance during Covid-19

The Financial Conduct Authority has responded to the coronavirus pandemic with a flurry of measures to cushion the impact on cash-strapped consumers as well as address implications for its regulatory regime. Financial services firms have adapted to the disruption with varying degrees of success but – as lockdown continues – everyone is learning new tricks, reports Adam Samuel.

Adam SamuelBA LLM DipPFS MCISI FCIArb Certs CII (MP&ER) Barrister and Attorney may be contacted atadamsamuel@aol.com.For links to where you can buy the second edition of ‘Consumer Financial Services Complaints and Compensation’, see www.adamsamuel.com/book.

It is often said that, in times of financial catastrophe, all the compliance flotsam comes up to the surface. Overly risky investments often appear to do well enough in a prosperous environment. Then, when things go wrong, the frauds, non-existent investments or just over-optimistic bright ideas emerge into a harsh light.