In view of the current public health emergency, the FCA has clarified that it expects firms to implement staff working from home wherever possible. This applies to all FCA-regulated firms across the UK, including in Scotland, Wales and Northern Ireland.
Each firm’s designated Senior Manager or equivalent person is responsible for identifying which of their employees are unable to perform their jobs from home. It is expected that the number of roles requiring an ongoing physical presence in the office or business continuity site will be far smaller than the number of workers normally working from business premises.
As far as practicable, firms should facilitate employees working from home, including providing suitable IT and equipment to enable remote working. The FCA expects that the following staff should be able to work from home, with very few exceptions:
- financial advisers, as they can offer their services online or by phone;
- staff who can safely and securely trade shares and financial instruments from home;
- business support staff, such as those in IT where they can triage issues from home, unless they are looking after specific equipment or technology;
- claims management companies and those selling non-essential goods and credit.
Further Government guidance for employers is available here.