The Prudential Regulation Authority (PRA) has issued a statement which replaces previous guidance relating to coronavirus (COVID-19) measures for PRA-regulated firms, in light of updates from the UK government.
The PRA states that firms should continue to follow relevant guidance, including updates on GOV.UK/coronavirus, to ensure they comply with any restrictions.
This includes following advice on:
The PRA recommends that the chief executive officer senior management function (SMF1) is accountable for ensuring an adequate process for following and adhering to government guidance. For firms that do not have an SMF1 chief executive officer, this will be the most relevant member of the senior management team.
For any queries relating to PRA-regulated firms, the PRA asks firms to speak with their normal supervisory contact or email: keyworkersqueries@bankofengland.co.uk
Source: Statement by the PRA on COVID guidance for firms
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