UK watchdog asks bankers why can't they stay at home
LONDON (Reuters) - Banks should think hard before designating a staff as "key workers" who can still send their children to school during Britain's coronavirus lockdown, the Financial Conduct Authority said on Friday.
The FCA issued extra guidance for banks and other financial firms it regulates for deciding who can be designated a key worker and therefore send their children to school and travel to the office.
"The government has asked parents to keep their children at home, wherever possible, and asked schools to remain open only for those children who absolutely need to attend," the FCA said.
"We only expect a limited number of people to be identified as being key financial workers."
It said that key workers were operators of financial market infrastructure, or provide essential daily financial services to customers, or ensure continued functioning of markets.
Some traders, an activity not on the FCA list, are still thought to be going to the office.
The FCA said chief executives of firms should be directly accountable to the regulator for ensuring "an adequate process so that only roles meeting the definition are designated".
FCA interim Chief Executive Christopher Woolard will underscore the watchdog's message on Monday when he holds a teleconference with heads of Britain's banks.
(Reporting by Huw Jones; Editing by Alex Richardson)
