Covid-19 NPA Latest Guidance and FCA Measures

On 24th April , after swift consultation which NPA responded to, the FCA launched Temporary Measures for a 3-month Payment Deferral (not an interest freeze) period for those economically affected by coronavirus, and this time it did include pawnbroking. A briefing was sent to members which including managing redemptions and conditions under which freezing interest would be necessary. NPA also provide suggested wording for shop windows and websites to comply with the FCA guidelines. We also issued a revised Notice of Intention to Sell letter. Separately the FCA have waived Fees for late returns for SMEs up to the end of July.

Meanwhile, NPA continues to focus on keeping members up to date during the lockdown period. The following are available on our members web area under Research-in the Business Protection section- Frontline Staff, How to claim on the Job Retention Scheme for furloughed staff, SMCR rules during lockdown, Business Interruption Loan Scheme, Changing Year End Accounting Dates, Protection against aggressive retail landlords, launch of the Bounce-back loan scheme, Complaints Handling during the lockdown,  and the new Small Business Relief Fund.