Regulatory Alerts2020-04-09
Joint Directive to Financial Institutions under the Disaster Management Regulations (9 April 2020)
The Financial Sector Conduct Authority and Prudential Authority issued this joint directive to mandate precautionary measures for financial institutions providing essential services during the COVID-19 nationwide lockdown. Institutions must minimize on-site staff, enable remote work, enforce physical distancing of at least 1.5 to 2 meters, implement temperature screening and symptom protocols, maintain contact registers, and establish infectious disease response plans. The directive takes effect upon publication on 9 April 2020 and remains valid throughout the lockdown period, including any extensions, to ensure continuous financial operations while limiting virus transmission.
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