- A post-coronavirus (COVID-19) road map for UK financial services
- Rule 1—Don’t forget it’s a long, winding road
- Rule 2—Expect the regulators along for the ride
- Rule 3—Plan your route in advance
- Governance and ongoing reviews
- Timing and phasing
- Protective measures in the workplace
- Changes to client service and support levels
- Changes required to the ‘business as usual’ operating environment
- Communication with stakeholders
- Training and support on new systems and procedures
- Rule 4—Keep your eyes on the road
Law360: For those of us old enough to remember the pre-satellite navigation era, the concept of a road map conjures mixed memories—agreement over the destination, but arguments about the precise route. Map reading required decisive action and near constant vigilance, but even then, you were never quite sure that you were heading in the right direction. For the financial services industry, the road map for a return to ‘normal’ following the coronavirus (COVID-19) pandemic is no different. Kim Roberts, counsel, and Penny Froggatt and Marie Hoolihan, both associates, at King & Spalding LLP, discuss what this means for financial services businesses and their workforce.
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