Regulatory Alerts2020-05-29
FSCA Communication 27 of 2020 (FM) Impact of COVID-19 on Financial Markets Act Compliance
The Financial Sector Conduct Authority (FSCA) has issued Communication 27 of 2020 to extend statutory compliance deadlines for financial market participants affected by South Africa's nationwide COVID-19 lockdown. The directive grants a two-month extension for auditing accounting records and annual financial statements under Section 90 of the Financial Markets Act, alongside a two-month extension for various Johannesburg Stock Exchange listing requirements concerning financial statement publication and distribution. These adjustments apply to market infrastructures and issuers with financial year or interim periods ending between late February and late April 2020, establishing new submission deadlines through September 2020.
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