Thomson Reuters has put in place from the outset of the pandemic crisis a number of COVID-19-related services to inform and help as best possible its professional customers and broader business audiences manage through the tragedy and turmoil caused by the COVID-19 pandemic. It has:
- launched free to access to their COVID-19 resource center helping clients navigate the fast-changing business environment
- developed an Answers On blog specifically on a COVID-19.
Thomson Reuters Regulatory Index
Users of the specialist Thomson Reuters Regulatory Index – a one-stop Regulatory Intelligence providing world-class content and advanced technology that cuts through the complexity and sheer volume of content within the regulatory compliance environment - are able to access to the index that tracks regulatory updates relating to COVID-19. Currently, there are over 7,100 items.
Most government actions to protect the economies (worldwide) rely on the financial services community for distribution/implementation. Here is a recent example of the report on what is happening in Canada:
- Canadian investment regulator details COVID-19 exemptive relief
- Published 02-Apr-2020 by Daniel Seleanu, Regulatory Intelligence
- Canada’s investment regulator has provided further detail on exemptive relief for dealers facing disruptions from COVID-19. Areas targeted for relief by the Investment Industry Organization of Canada (IIROC) include client document approvals, reporting timelines, audit procedures, pre-approvals, identity verification standards, and margin-related matters.
- IIROC approved the offering of exemptive relief on March 26, 2020, to mitigate difficulties experienced by dealers responding to the COVID-19 pandemic.
- “Investment firms and their registrants have been designated essential services by several provincial governments, recognizing the importance of the provision of financial advice, services, and products to Canadians during this difficult time,” IIROC said. “We will continue to be flexible in the way we regulate investment firms and their registrants while ensuring that investors and the integrity of our markets are protected.”
- IIROC outlined the areas targeted for regulatory exemption. (There is much more in the full entry.)
Companies that have assembled a compliance task force to manage the impact of COVID-19, the ability to use a TRRI Feed specifically on COVID-19 will be a vital resource to focus and drive workflow.
CTMfile take: The online, constantly updated databases fed by all types of experts to give a full picture of what is happening are becoming vital for not only coping with COVID-19 but also for coping with the huge number of regulatory changes happening worldwide – there were 57,000 regulatory alerts in 2018.
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