Author: Rebecca Degiorgio, Corporate Administrator
16th April 2020
As a response to the restrictions emanating from the global pandemic, the Malta Financial Services Authority (MFSA) has issued an updated notice of interim measures for the processing of documentation. Thus, the original circular issued on the 24th March, 2020 has been amended to provide for the inclusion of regulatory submissions, such as audited Financial Statements, to be sent to the MFSA in a scanned format by the Chairman of the Board of a company, as opposed to the prior requirement for each Director of the company to send an email confirmation for the approval of accounts to the Authority. This update may provide for the lessening of any unnecessary bureau-cracy during this unprecedented period in time. However, whilst the Authority reserves the right to request all scanned copies to be sent by mail or courier service, all original signed documents and/or certified true copies of original documents that are typically submitted to the MFSA are still due for submission in hard copy upon the return to business as usual.
At Fenlex Group, we shall continue to closely monitor, assess and cooperate with any interim measures taken by the Regulators in view of COVID-19. For further in-formation and/or assistance, please do not hesitate to contact us personally on info@fenlex.com.