In light of the COVID-19 pandemic, the MFSA has announced that it will be accepting delays in some of the reporting requirements relating to submissions as required from Trustees and Corporate Service Providers ("CSPs") and which fall due by March or April 2020.
Audited Annual Financial Statements
The MFSA is granting Trustees and Corporate Service Providers an extension of two months for the submission of the Audited Annual Financial Statements which are due by March or April 2020.
Annual Compliance Return
No extension has been granted in respect of the submission of the Annual Compliance Return falling due by March or April 2020.
Statement of Solvency
The MFSA has considered that most individual CSPs have submitted their Statement of Solvency for 2020, and therefore the MFSA will continue to require timely submissions in this respect.
May/June 2020 Deadlines
The deadlines for submissions or publications falling due in May or June 2020 have not been extended, however the MFSA will be monitoring the situation and will decide whether such delays would be necessary at a later stage.
The full circular may be accessed through the following link: https://www.mfsa.mt/wp-content/uploads/2020/03/2020.03.21-Circular-Timing-of-regulatory-reporting-due-to-the-outbreak-of-COVID-19-2.pdf
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.