Regulatory Alerts2020-06-26
FSCA Communication 36 of 2020: Impact of COVID-19 on Financial Markets Act Compliance
The Financial Sector Conduct Authority extends the profit distribution compliance deadline for Real Estate Investment Trusts by two months to mitigate pandemic-related cash flow disruptions. This relief covers issuers with financial year ends from February through September 2020, permitting them to retain capital while resolving tenant rental disputes and securing refinancing. Consequently, property companies can preserve their JSE-listed REIT status without compromising long-term business viability.
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