UK Adds Home-Working Rules To Money Market Regulation

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Law360, London (April 22, 2021, 4:48 PM BST) — The Bank of England has set out measures to modernize Britain’s money market sector with guidelines that allow traders to work from home because of COVID-19 lockdowns, promote diversity among market participants and safeguard electronic trades.

Britain’s central bank said on Wednesday that it has updated the U.K. Money Markets Code, which sets out best practice for securities lending. First published in 2017, the guidelines have been revamped by the BoE’s Money Market Committee after consultations with market participants — banks, asset managers, insurance companies and pension funds. The committee is a senior-level forum for market participants and the relevant U.K….