MFSA extends regulatory reporting deadlines for regulated firms due to COVID-19 outbreak

In light of the COVID-19 outbreak and its effects on the financial services sector, the MFSA has taken a decision to extend some of the regulatory reporting deadlines for the submissions that fall due this month or next month. In this regard, the MFSA has published a Circular, addressed to all regulated entities, explaining its approach and listing the applicable extensions for each sector. The latter have been tabulated below for ease of reference.

In the Circular, the MFSA also informed the financial services sector that for the time being, the reporting deadlines which are due in May and June will remain in place, although based on its ongoing assessment of events, it will consider extensions at a later stage if the situation warrants one.

The MFSA also communicated in the Circular, that it reserves the right to apply a more stringent approach to the accepted delays from those outlined in the Circular and that its approach might change as a result of developments both at a local and EU level.

The MFSA in its press release regarding the Circular encouraged regulated firms to follow regulatory updates regarding the COVID-19 situation on a specifically dedicated section on the MFSA’s official website which will be updated from time-to-time: https://www.mfsa.mt/news/covid-19-regulatory-updates/.

To find the applicable regulatory reporting extensions for each financial services sector click here.