Further to the outbreak of the Covid-19 pandemic which has impacted on several local and international industries, and in order to alleviate regulatory burden on Licensees during such global crisis, the FSC has decided not to charge administrative penalties for late filing and reporting obligations due for below-mentioned periods.
The FSC issued a communique on 12 June 2020, advising that administrative penalties will not be levied if filing of Audited Financial Statements/Annual Reports, Quarterly/Interim Financial Statements and Financial Summary are made on or before 30 September 2020, as indicated in the table below:
|Type of Report||Year ended||Applicable timeframe for submission under the Relevant Acts or FSC Rules||Date until which administrative penalties will not be levied|
|Annual Reports / Audited Financial Statements and Financial Summary||31 October 2019 to 29 February 2020||Not later than 6 months of balance sheet date||30-Sep-20|
|Annual Reports /Audited Financial Statements||31 December 2019 to 31 May 2020||Not later than 90 days or 3 months of its balance sheet date||30-Sep-20|
|Type of Report||Quarter ended||Applicable timeframe for submission under the Relevant Acts||Date until which administrative penalties will not be levied|
|Quarterly/Interim Financial Statements||29 February 2020 to 30 June 2020||Not later than 45 days after the end of each quarter||30-Sep-20|