March 16, 2020 / 4:17 PM / 15 days ago

UK watchdog says coronavirus contingency plans in markets working well

LONDON, March 16 (Reuters) - Contingency plans put in place by financial firms for dealing with fallout from the coronavirus epidemic are having the intended effect, Britain’s Financial Conduct Authority said on Monday.

“From what we have seen, business continuity plans are working well, and we have welcomed steps that firms are taking to show flexibility in their treatment of customers,” the regulator said in a statement.

Reporting by Huw Jones; Editing by David CLarke

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