On March 13, 2020, the Malta Financial Services Authority (the
"MFSA"), indicating that it is closely
monitoring the impact of COVID-19 on Investors, Investment Firms,
Custodians, Fund Managers and Collective Investment Schemes (the
"Licence Holders") and the need for such
Licence Holders to take into consideration the impacts of COVID-19
on their business continuity and contingency plans.
Business Continuity Plan
The MFSA highlighted that all Licence Holders should have in
place a Business Continuity Plan (the
"BCP") which is to outline the
management process to ensure continuity of business and advance
planning required in such outbreaks, given that access to company
offices may become physically impossible. BCP's are to ensure
minimum losses and guarantee the continuity of fundamental business
practices.
