- within Corporate/Commercial Law topic(s)
- in India
In light of the COVID-19 pandemic, the MFSA has announced that it will be accepting delays in some of the reporting requirements relating to submissions as required from credit institutions and which fall due by March or April 2020.
Audited Annual Financial Statements
Extensions for the submission of the Audited Annual Financial Statements and/or the Management Letter due by March or April 2020 will be granted to credit institutions on a case-by-case basis, following an official request by the credit institution
Payment Accounts with Basic Features
The MFSA will be granting credit institutions having payment accounts with basic features, an extension of two months for the completion of the Q1 submission falling due by March or April 2020.
May/June 2020 Deadlines
The deadlines for submissions or publications falling due in May or June 2020 have not been extended, however the MFSA will be monitoring the situation and will decide whether such delays would be necessary at a later stage.
The full circular may be accessed through the following link: https://www.mfsa.mt/wp-content/uploads/2020/03/2020.03.21-Circular-Timing-of-regulatory-reporting-due-to-the-outbreak-of-COVID-19-2.pdf
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
