MFSA Issues Circular On Regulatory Reporting Requirements Following The Outbreak Of COVID-19

On the 20^th March 2020, the Malta Financial Services Authority (“MFSA”) issued a Circular dealing with the timing of regulatory reporting in light of the outbreak of the COVID-19 pandemic by virtue of which the Malta Financial Services Authority (“MFSA”) informed market participants that it would be accepting a delay from the reporting deadline for some of the submissions/publications falling due by March or April 2020. The said circular stated that the MFSA was not inclined to accept a delay for submissions/publications due by May or June.

Following an assessment of the COVID-19 pandemic situation on the financial services sector, as well as various feedback from the industry, the MFSA, in an updated circular to industry participants has announced that it considers it necessary and proportionate to once again apply flexibility in the applicable deadlines for the submission of regulatory reporting falling due.