On 9 November 2020, the FCA issued an updated statement regarding COVID-19 and workplace arrangements and work-related travel.

The updated statement provides that:

  • Firms should continue to follow relevant guidance to ensure they comply with any restrictions. For firms based in England, the advice is issued by the UK Government, while firms based in Scotland, Wales or Northern Ireland should refer to their respective devolved government guidance.
  • Firms should refer to the appropriate government guidance for advice on who should work from home, if possible, and ensure workplaces are safe for those who cannot work from home.
  • The FCA recommends that, for financial services firms, 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.