EXTENSION OF PERIOD FOR SUBMISSION OF CERTAIN STATUTORY RETURNS, 2020

The Financial Sector Conduct Authority has issued FAIS General Notice 2 of 2020 regarding the extension of periods for compliance with various regulatory requirements.

The Notice replaces FAIS General Notice 1 of 2020 which dealt with the same subject. 

Some of the extensions provided in the Notice are:

  • 4-month extension from the original submission date for Annual Financial Statements that are required between 31 March 2020 and 31 October 2020. 
  • 3-month extension from the original submission date for audited Financial Statements for each portfolio of a Collective Investment Scheme due between 31 March 2020 and 30 September 2020. 
  • 3-month extension from the original submission date for an auditor’s report and a letter by the management of an Administrator due between 31 March 2020 and 31 May 2020. 
  • 3-month extension from the original submission date for audited Financial Statements of Pensions Funds due between 31 March 2020 and 31 August 2020. 
  • 3-month extension from the original submission date for the valuation reports by Pension Funds due between 31 March 2020 and 31 August 2020. 

Reliance on the extension is not compulsory. If you are able to submit the above returns by the original deadline, we urge you to provide ICS with the relevant completed and signed document for submission. 

You are requested to read General Notice 2 of 2020 and familiarize yourself with the contents thereof.  

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