UK Conduct Regulator Guidance on Post and Paper Documents During COVID-1905/13/2020The U.K. Financial Conduct Authority has published guidance on how firms should handle post and paper documents during COVID-19. The FCA expects firms to continue to comply with requirements for post and paper-based processes and, where this is not possible, firms should notify the FCA. The FCA also expects firms to contact customers who do not use online services in a timely manner and should be able to demonstrate any steps they have taken to mitigate the impact of any non-compliance with usual post and paper-based processes.
Firms should also ask customers who have sent cheques via post that have not yet been processed to contact the firm. The firm should consider whether the cheque relates to client money under the FCA’s Client Assets Sourcebook regime, whether they are able to provide the services without cashing the cheque and, if so, whether their intended actions are in compliance with the FCA Client Assets Sourcebook.
View the FCA's statement on post and paper documents.
Details of other regulatory responses to COVID-19 are available on our COVID-19 Research Center.
Return to main website.TOPICS: Conduct & Culture, COVID-19
Financial Regulatory Developments Focus