As you are aware, COVID-19 is a dangerous virus (“virus”) that is creating havoc all over the world. Our president took a bold step this week when he announced a nationwide shutdown with effect from Thursday, 26/03/2020 at 00:00 (“shutdown”).
Aside from the obvious benefit that the shutdown intends to prevent or contain the further spread of the virus, there are current reporting and regulated obligations due to the FSCA that need to be reconsidered.
The FSCA communicated numerous deadlines which will be extended as a result of the shutdown. These include, but are not limited to – Financial returns, Regulatory Exams (“RE”), CPD hours, etc. For example: all RE with a deadline for 2020 will be extended to a deadline of 15 December 2020 and all RE already scheduled to take place between 26 March 2020 and 16 April 2020 will have to be postponed.
The communication goes on to state that the FSCA is also currently in discussions with Moonstone to consider the extent to which it is feasible to roll out an online format for the RE.
Please contact us for assistance with the unpacking of these extensions and what it means for your business.
Fathima Khan-Ahmod
Director: Ahmod Consulting
Be safe.
Ahmod Consulting 