Regulatory Alerts2021-02-18
FSCA Exemption of Retirement Funds for COVID-19 Related Rule Amendment Fees
The Financial Sector Conduct Authority has temporarily reduced prescribed fees for retirement funds submitting COVID-19 related rule amendments to alleviate financial distress. Eligible funds must evidence employer or employee financial distress regarding section 13A contributions and submit applications by 30 April 2021 through the Authority’s online portal. This limited exemption covers applications lodged between 1 August 2020 and 30 April 2021, with the reduced fee structure extending until 31 July 2021 for qualifying rule alterations.
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