Financial firms' senior managers can be replaced without approval for 36 weeks, UK FCA says
( May 6, 2020, 09:26 GMT | Official Statement) -- MLex Summary: Financial institutions can allocate an absent senior manager’s responsibilities to another individual without regulatory approval for a period of 36 weeks, the UK Financial Conduct Authority said today. The FCA has extended the maximum period on offer — which was previously 12 weeks — due to the challenges posed by Covid-19.For further details on how to track all MLex coverage on Covid-19’s impact, click here. For an overview case file bringing together all fields of Covid-19 coverage, see here....
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