On 15 April 2020, the UK Financial Conduct Authority (“FCA”) published a “Dear CEO” letter sent to the leaders of UK banks on lending to small and medium-sized enterprises (“SMEs”) during the COVID-19 pandemic....more
The FCA is facing a difficult balancing act. As the conduct regulator, and the prudential regulator to many firms, it is imperative that firms which the FCA authorise maintain high standards. ...more