UPDATE 2-UK markets watchdog sets out operational rules for coronavirus outbreak

(Adds more detail)

LONDON, March 4 (Reuters) - Britain's markets regulator said
it was reviewing how a wide range of companies can continue to
operate during a coronavirus outbreak in the country.

"This includes assessments of operational risks, the ability
of firms to continue to operate effectively and the steps firms
are taking to serve and support their customers," the Financial
Conduct Authority said on Wednesday.

Banks and trading firms face the prospect of staff having to
work from home or from alternative sites to minimise the risk of
infection, raising questions regarding compliance with rules.

The FCA said it expects firms to take all reasonable steps
to still meet their regulatory obligations during an outbreak
when it comes to trading securities and other activities.

"For example, we would expect firms to be able to enter
orders and transactions promptly into the relevant systems, use
recorded lines when trading and give staff access to the
compliance support they need," the FCA said in a statement.

"If firms are able to meet these standards and undertake
these activities from backup sites or with staff working from
home, we have no objection to this."

The FCA said it was holding discussions with firms and trade
associations on resolving specific issues.

"We want to understand the pressures they are facing and
will be continuing our active dialogue with firms, institutions
and industry bodies in the coming days and weeks. We will keep
our guidance under review as necessary."
(Reporting by Huw Jones, editing by Larry King, Louise Heavens)