PIMFA is to hold weekly meetings with the FCA so the wealth management trade group can give feedback from firms on compliance and operational issues they may be facing during the Covid-19 outbreak.

This follows PIMFA writing to the FCA and HM Treasury outlining the concerns and potential impact of coronavirus on member firms and their clients.

PIMFA chief executive Liz Field reiterated the need for guidance and clarification for firms on how they should engage with the regulator in this period of uncertainty.