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Struggling to produce RTS27 and RTS28 reporting on time due to the office disruptions in light of global Coronavirus pandemic? No worries, after receiving multiple requests from financial organizations in recent weeks, Financial Conduct Authority decided to waive any enforcement actions against the firms, which do not publish the required RTS27 reports by April 1st, as long as they do so no later than June 30th.

However, this does not mean that the best execution requirements would be fully waived during this time. At the end of Q2, all the past due reports would still be required for submission to the regulator and the regulators are still expecting the firms to fully abide by the BestEx rules. Mr. Christopher Woodward, interim CEO of the FCA said: “we would expect firms to consider their use of different types of orders to execute client orders and manage risk during market volatility”. …


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