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

Further to a circular published on 20 March 2020 wherein the MFSA informed the financial services industry that it would accept delays from reporting deadlines falling due between March and April 2020, the MFSA has now issued another circular informing the industry that, in light of the COVID-19 pandemic, it (the “MFSA”) may accept delays in reporting deadlines falling due by June 2020. This said, the MFSA emphasised that delays will only be accepted on an exceptional basis, where the requesting entity provides sufficient justifications to demonstrate that the delay in the regulatory submission is due to COVID-19 related circumstances.

The MFSA also emphasised that the purpose of the circular is not intended to grant further extensions to already extended filing deadlines.