Mar
30

COVID-19 Government Employment-Related Grants

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The Maltese government has announced a number of employment related measures and grants in response to COVID-19. Applications are now available online for: 1. Parent Benefit: A parent who is employed in the private sector, with children under the age of 16 years, who cannot go to work after the 8 th March 2020 in order to take care of their children and cannot telework, are eligible for this benefit. The benefit is of €166.15 per week if the parent works full-time and €103.85 if the parent works part-time. The application can be downloaded here: https://socialsecu...
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Mar
27

MFSA Update: Circular on the Clarification of the Application of the EBA’s COVID-19 Measures

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Following up from the statement made by the European Banking Authority (EBA) relating to the temporary capital and operation relief provided to credit institutions, the EBA has issued a further statement to clarify the application of this framework. This statement addresses specifically the classification of loans in default, the identification of forborne exposures and their accounting treatment. In relation to the provision of general moratoria by national governments and EU bodies, the EBA emphasised that it is vital for the classification of exposures to refle...
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Mar
27

COVID-19: MFSA Issues Guidance to Consumers

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In light of the COVID-19 pandemic, the Malta Financial Services Authority (MFSA) has issued guidance to consumers in order to safeguard their interests. Banking In view of the social distancing guidelines issued by the Maltese Health Authorities, the MFSA has encouraged customers to make use of internet and mobile banking services, whilst also keeping in mind the security measures that should be taken when using such services. Investments Considering the fast rate at which the current situation is developing, the MFSA urged consumers who are considering either inv...
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Mar
27

MFSA Publishes Updates on the Submission of Documentation

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As part of its COVID-19 contingency and business continuity panning, the Malta Financial Services Authority (MFSA) has published a circular announcing that, with immediate effect and until otherwise communicated, all documentation submitted to the MFSA should be sent electronically. In this respect, the MFSA has informed all authorized persons and entities, applicants and prospective applicants that any authorization and supervisory correspondence should be submitted to the MFSA by means of an email or through the relevant MFSA online portals. Nevertheless, the MF...
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2497 Hits
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Mar
27

MFSA Extends Regulatory Reporting Deadlines for Investment Firms, Funds and Managers

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In light of the current pandemic in which we find ourselves, the MFSA has announced that it will be extending the deadlines for submission of regulatory reporting for investment firms, investment funds and fund managers which fall due by March or April 2020. However, with regard to those submissions which fall due by May or June 2020, the MFSA is reluctant to grant extensions for the time-being. 1.  Investment Firms Category 1-4 (excluding credit institutions) - Annual Report, Audited Financial Statements, COREP Return, and Management Letter, Circularisation ...
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