FCA Loosens Rules On Rental Reporting Amid COVID-19

Law360, London (August 18, 2020, 2:50 PM BST) -- Britain's finance watchdog said Tuesday that it will relax rules governing how companies must account for any reduced rent they paid during the COVID-19 crisis.

The Financial Conduct Authority said that it will loosen accounting regulations that usually require companies to disclose any changes to their rental payments, in a bid to aid businesses weather the global health crisis.

The changes provide "practical relief" to businesses in terms of how they account for reduced rental payments they made during the height of the crisis, the regulator said.

The relaxed rules will apply to any reporting periods beginning on or after June...

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