From: RegTech Analyst
As the COVID-19 pandemic is worsening by the day, the European Securities and Markets Authority (ESMA) has taken more measures to limit the outbreak.
The EU regulator has announced that its staff will work remotely from Monday March 16 as a precautionary measure.
The decision comes just days after ESMA offered advice for financial markets on how to curb the spread of the coronavirus.
ESMA wrote the advice in collaboration from national competent authorities. Among other things, it urged financial market stakeholders to be transparent on the impact COVID-19 could have on their ventures and that they should be ready to apply contingency plans. This includes the deployment of business continuity measures, to ensure operational continuity in line with regulatory obligations.
Similarly, the European Banking Authority has also offered advice for the banking industry.
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