The FMA has published guidelines for financial services businesses during level three the interim guidance by WorkSafe is also useful. The modest additional flexibility in workplace opening allows work that cannot be completed at home to be done provided some health and safety procedures are followed. Access to the office can help materially for staff with limited resources at home and to allow a wider range of activities to be managed. In our world we are trying to keep as many people away from the office as we can to allow maximum safety for those that need to pop in - not just to help our staff, but also the others that share the same building.
The FMA have clarified what disciplinary actions they will take on individuals or businesses that breach, or expect to breach, a regulatory obligation as a result of the COVID-19, and who seek relief. The FMA intend to take ‘no-action’. They have explained this by saying that breaches will be remediated at a later date, and the requirement to comply is being delayed and not removed.
From a panel of leading advisers speaking last week at the FSC connect event the advice most often shared included: acknowledge the event and maintain contact with customers - call them, even if it is just to say hello and ask them how they are doing, see the opportunity - there is a heightened sense of risk and concern, offer assistance wherever possible - there are people who need to use hardship provisions so it is important to tell clients about those things, and get om those zoom calls and get your own digital transformation moving.