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For further information on the effects of COVID-19 on financial services, see: Coronavirus (COVID-19)—key developments for financial services lawyers and Coronavirus (COVID-19)—key financial services issues.
The Financial Conduct Authority (FCA) issued a statement aimed at firms providing portfolio management services or holding retail client accounts that include positions in leveraged financial instruments or contingent liability transactions. It outlines a further six-month extension and amendments to a temporary coronavirus (COVID-19) measure that the FCA issued in March 2020 regarding 10% depreciation notifications.
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