Mar
26

Mamo TCV Advocates | COVID-19 Webpage

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As the effects of the spread of the COVID-19 virus continue to be felt, a number of our clients have approached us for advice in connection with a number of queries arising from the unprecedented challenges presented by these unique times. To this end, while thanks to our teleworking facilities, we continue to advise and assist our clients at the same levels of service they have come to expect from us, we have also launched a dedicated page on our website aimed at providing updates on the various legislative developments and other measures that are being put in pl...
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Mar
25

MFSA Announces Extensions in Reporting and Disclosure Deadlines Due to COVID-19 Outbreak

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In response to the challenging conditions which are being faced by the financial services sector as a result of the COVID-19 outbreak, the Malta Financial Services Authority ("MFSA") has announced extensions to certain reporting and disclosure deadlines due by March or April 2020.The MFSA Circular describes the different extensions being granted for each sector. With specific reference to the insurance sector, MFSA announced the following extensions: 1.  Insurance and Reinsurance Undertakings For all supervisory reporting and public disclosure requirements un...
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Mar
25

COVID-19: MFSA Extends Regulatory Reporting Deadlines for Credit Institutions

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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 b...
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Mar
25

COVID-19: MFSA Extends Deadlines for Regulatory Reporting for Trustees and CSPs

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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 Trustees and Corporate Service Providers (" CSPs ") and which fall due by March or April 2020. Audited Annual Financial Statements The MFSA is granting Trustees and Corporate Service Providers an extension of two months for the submission of the Audited Annual Financial Statements which are due by March or April 2020. Annual Compliance Return No extension has been granted in respect of the submiss...
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Mar
25

EIOPA issues recommendations on supervisory flexibility regarding the deadline of supervisory reporting and public disclosure due to COVID-19 outbreak

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In a bid to ease the challenging environment being experienced by insurance and reinsurance undertakings as a result of the COVID-19 outbreak, EIOPA has issued recommendations on supervisory flexibility regarding the deadline of supervisory reporting and public disclosure ("EIOPA Recommendations").The EIOPA Recommendations urge competent authorities to ease reporting and disclosure requirements falling under the Solvency II Directive applicable to the insurance sector. The EIOPA recommendations apply to the following reporting and disclosure obligations: 1. Regula...
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