Regulatory fatigue may be starting to set in, as there were fewer regulatory announcements directly consequent on Covid-19 on 7 April.
- FCA made its rules on deferring commencement of various handbook provisions on pension transfers, investment pathways, platform switching and access to insurance, to various dates separately notified;
- FCA has updated its policy statement on signposting to travel insurance for consumers with medical conditions and associated guidance. FCA has postponed the start date for the signposting rules; and
- FCA has published guidance to firms on how they can explain to customers the consequences of realising their investment in these times of market volatility without straying into giving personal recommendations. But it stresses the guidance is limited to the exceptional circumstances arising from Covid-19 and is not intended to have any longer term application. The guidance gives examples of some messages that would not be personal recommendations, and FCA says it has spoken to FOS about what view it would take if it received a complaint relevant to the guidance – FOS has said it would take the FCA note into account.