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ARTICLE · 08 APRIL 2020

MFSA Issues Circular On Contingency Planning In Light Of COVID-19

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a result of the current crisis in which we find ourselves, due to the COVID-19 pandemic, the Malta Financial Services Authority ("MFSA") issued a notice on 13th March 2020,...

MaltaCoronavirus (COVID-19)
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As a result of the current crisis in which we find ourselves, due to the COVID-19 pandemic, the Malta Financial Services Authority ("MFSA") issued a notice on 13th March 2020, urging investment firms, custodians, fund managers and collective investment schemes (collectively referred to as "Licence Holders") to take into account how their operations may be affected by this pandemic. In light of this, the MFSA expects Licence Holders to take the necessary measures and precautions to deal with the evolving situation and to be able to cater for any eventuality, by having appropriate business continuity and contingency plans in place.

Business Continuity Plan ("BCP")

Licence Holders are expected to have a BCP in place in order to ensure business continuity so when faced with a disruption, such as the one we are currently facing, any impact or loss is mitigated to the greatest extent possible. A BCP is the management process which defines the advance planning and

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