Disaster Management Act Regulations – Alert level 4 during lockdown

The Government recently published the lockdown regulations under the Disaster Management Act. With regards to the Financial Services industry, Part h: Financial and Business Services states:

1. Employees should work from home where possible.
2. Essential financial services may operate, subject to directions issues by the relevant Cabinet member, including the following services necessary to maintain the functioning of a financial system as defined in section 1(1) of the Financial Sector Regulation Act, only when the operation of a place of business or entity is necessary to continue to perform those services.

We are trying to get more specific guidance from the authorities on this matter, and will publish those as soon as we can.

In the meantime, please read an article where the FSCA provides guidance on essential services to the FIA. Just bear in mind that this was published prior to the introduction of level 4.

Click here to download the related Government Gazette.

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