Global watchdog warns over financial staff curbs in pandemic


Global financial regulators said on Thursday they are in talks with governments to allow key staff at financial firms to work on-site during the coronavirus epidemic to keep markets open.

The Financial Stability Board (FSB), which coordinates financial regulation for the Group of 20 Economies (G20), said its members held a teleconference on March 30 to review action to keep markets working and maintain the flow of credit to households and businesses.

“A key issue discussed on the call was the critical nature of many financial services and the importance of ensuring their operation throughout the pandemic,” the FSB said in a statement.

“FSB members are actively engaging with national and local authorities to ensure that these essential personnel are permitted to work on-site…. to maintain infrastructure that is critical to the financial system,” it said.