02 April 2020

This article was written by Anna Davis. 

The FCA starts by saying it is grateful for the significant ongoing efforts of banks, building societies and credit unions and their frontline staff working alongside the Post Office to keep access to cash, call centres and other essential services for customers.

Each firm’s designated Senior Manager or equivalent person is responsible for identifying which of their employees are unable to perform their jobs from home, and have to travel to the office or business continuity site. The FCA expects the total number of roles requiring an ongoing physical presence in the office or business continuity site to be far smaller than the number of workers needed to ensure all of a firm’s business activities continue to function on a business as usual basis. For example the FCA does not expect the following to go into work or meet face to face:

  • financial advisers, as they can offer their services online or by phone;
  • staff who can safely and securely trade shares and financial instruments from home;
  • business support staff, such as those in IT where they can triage issues from home, unless they are looking after specific equipment or technology;
  • claims management companies and those selling non-essential goods and credit.

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