Timing of regulatory reporting due to the outbreak of COVID-19

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Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Timing of regulatory reporting due to the outbreak of COVID-19 As outlined in previous communications, the MFSA expects regulated firms to take all reasonable measures in order to have appropriate contingency plans in place to be able to deal with any eventuality relating to the outbreak of COVID-19. At the same time, the MFSA is aware of the increasingly difficult conditions being faced currently, and presumably to be faced in the immediate future, by licensed entities in effectively responding to unprecedented challenges in terms of ensuring operational continuity, whilst also adhering to their regulatory obligations. Considering the significant effects of the COVID-19 situation on the financial services sector, the MFSA considers it necessary and proportionate to apply flexibility in the applicable deadlines for the submission of regulatory reporting falling due over the next months. In general, the MFSA will be accepting a delay from the reporting deadline for some of the submissions/publications falling due by March or April 2020. The MFSA is not inclined to accept a delay for submissions/publications due by May or June but, based on its ongoing assessment of the situation, it will consider such, at a later stage, if warranted. This is further explained in the dedicated sections below. The MFSA continues to maintain a close dialogue with the Central Bank of Malta, European Supervisory Authorities, as well with the European Central Bank and its positions are subject to developments and guidance provided within those fora. If circumstances of the case so warrant, the MFSA also reserves the right to exceptionally take a more restrictive approach to the accepted delays from that outlined. licensed entities, whilst maintaining its objective of ensuring the protection of markets and consumers/investo , in fact, is to allow a limited delay in the submission of information required in terms of the applicable legal and regulatory framework. No requirements will be waived or disapplied. The MFSA continues to monitor the situation and in case of developments at local or EU level having an impact on this approach, the MFSA will inform the public of the adjusted approach as soon as possible. Licensed entities should nevertheless report to the MFSA any material information relevant to their financial position immediately upon becoming aware. 20 March 2020

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Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Capital Markets For the reporting requirements applicable in the area of capital markets:
o Guarantors of Listed Companies Annual Audited Financial Statements The MFSA will consider granting an extension for next publications which are due four months after the end of each financial year following an official request received by the MFSA explaining the exceptional circumstances and on a case-by-case basis. o Listed Companies - Financial Analysis Summary The MFSA will grant an extension of two months for next publications which are due by two months after the publication of the audited financial statements. Issuers and Sponsors are still expected to act on a best effort basis to provide the market with the best available information, including projections. Issuers are expected to periodically reassess the impact of current events and should there be need to communicate further updates to the public, issuers are expected to do so immediately, and without delay. Credit Institutions For the reporting requirements applicable to credit institutions:
o Audited Annual Financial Statements, Management Letter The MFSA is inclined to grant an extension for next submissions due by March or April 2020 following an official request received, and on a case-by-case basis. o Payment accounts with basic features The MFSA will be allowing all entities in scope, two months for completion of the Q1 submission. Financial Institutions For the reporting requirements applicable to financial institutions:
o Audited Annual Financial Statements, Management Letter The MFSA will consider granting an extension for next submissions due by March or April following an official request received, and on a case-by-case basis.

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Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Insurance and Reinsurance Undertakings For all supervisory reporting and public disclosure requirements under Solvency II, any extensions would only be entertained in line with direction provided by EIOPA to ensure consistent supervisory approaches. EIOPA has already signaled its intention to allow flexibility and should be providing more details in the coming days. For the other reporting requirements applicable to insurance undertakings:
o Conduct-related data return for Insurance Undertakings The MFSA is not inclined to grant an extension for next submissions due by June but may exceptionally consider. The information is needed in order to report to EIOPA regarding complaints and financial innovation. Insurance Intermediaries For the reporting requirements applicable to insurance intermediaries:
o Audited Financial Statements
The MFSA is hereby granting an extension of two months to all entities in scope for next submissions due by March or April 2020. o Management Accounts and Compliance Statements The MFSA is hereby granting an extension of two months to all entities in scope for next submissions due by March or April 2020. Pensions For the reporting requirements applicable to retirement pensions:
o Schemes Audited
The MFSA is hereby granting an extension of two months to all entities in scope for next submissions due by March or April 2020. The MFSA would not be inclined to grant an extension for next submissions due by May or June as it considers it premature to contemplate this deadline at this stage. o Service Providers Audited Annual Financial Statements The MFSA is hereby granting an extension of two months to all entities in scope for next submissions due by March or April 2020. o Service Providers - Interim/Annual Financial Return The MFSA is hereby granting an extension of two months to all entities in scope for next submissions due by March or April 2020.

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Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Investment Firms For the reporting requirements applicable to investment firms:
o Category 1-4 (excluding credit institutions) - Annual Report, Audited Financial Statements, COREP Return, and Management Letter, Circularisation Exercise Report) The MFSA is ready to accept next submissions due by March or April up to two-months from the reporting date following an official request received, and on a case-by-case basis. o Recovery Plans and High-Income Earners under the CRD package The MFSA is not inclined to grant an extension for next submissions due by April and June respectively but may exceptionally consider. o Recovery Plan Confirmation for Local Firms The MFSA is not inclined to grant an extension for next submissions due by April 2020 but may exceptionally consider. o System Certification Confirmation The MFSA is not inclined to grant an extension for next submissions due by June as it considers it premature to contemplate this deadline at this stage. o Conduct-related data return for Investment Firms The MFSA is not inclined to grant an extension for next submissions due by May but may exceptionally consider. The information is needed in order to report to ESMA regarding complaints and retail investor trends. o Survey on cross-border activities by Investment Firms The MFSA is not inclined to grant an extension for next submissions due by (25) March 2020 but may exceptionally consider in close coordination with ESMA. This survey review as part of its supervisory convergence initiatives.

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Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Investment Funds and Fund Managers For the reporting requirements applicable to investment funds:
o UCITS and UCITS ManCos, AIFs and AIFMs - Annual Report, Audited Financial Statements, Interim/Annual Financial Return, Management Letter and confirmations The MFSA is ready to accept next submissions due by March or April 2020 up to two months from the reporting date following an official request received, and on a case-by-case basis. o Professional Investor Funds Annual Report, Audited Financial Statements, Management The MFSA is hereby granting an extension of two months to all entities in scope for next submissions due by March or April 2020. o Recognised Persons (RFAs, RICCs, PCIS), De Minimis AIFMs Annual Report, Audited Financial irmation, The MFSA is hereby granting an extension of two months to all entities in scope for next submissions due by March or by April 2020. o De Minimis AIFMs, AIFMs, UCITS ManCo - Annex V Return, Self-Assessment Closet Indexing The MFSA is not inclined to grant an extension for next submissions due by March or by April 2020 but may exceptionally consider. o Survey on UCITS liquidity risk management The MFSA is not inclined to grant an extension for next submissions due by (6) April 2020 but may exceptionally consider in close coordination with ESMA. This survey Supervisory Action on Liquidity Risk Management.

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Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Trustees1 and CSPs For all requirements emanating from EU law (primarily in relation to reporting of trusts beneficial ownership information in accordance with the 5th AMLD), these have been introduced to ensure adequate, accurate and up-to-date data in the register of beneficial owners and the MFSA will continue to apply the requirements and their timelines. For the other requirements applicable to Trustees and CSPs:
o Trustees/ CSPs Audited Annual Financial Statements The MFSA is hereby granting an extension of two months to all entities in scope for next submissions due by March or by April 2020. o Trustees/ CSPs Annual Compliance Return The MFSA is not inclined to grant an extension for next submissions due by March or by April 2020 but may exceptionally consider. o CSPs Statement of Solvency Most individual CSPs have submitted their Statement of Solvency for 2020. The MFSA will continue requiring these submissions. Contacts:
For Capital Markets: capitalmarkets@mfsa.mt
For Credit and Financial Institutions: BU@mfsa.mt For Insurance Undertakings and Intermediaries: ipsu@mfsa.mt and csuinsurance@mfsa.mt For Pension Schemes and Service Providers: ipsu@mfsa.mt For Investment Firms: investmentfirms@mfsa.mt and csuinvestments@mfsa.mt For Investment Funds and Fund Managers: funds@mfsa.mt For Trustees and CSPs: csu@mfsa.mt 1 ts and Trustees Act, including administrators of private foundations and persons authorised to act as mandataries.