The Cyprus Securities and Exchange Commission, better known as CySEC has announced that it will extend the normal deadlines for most regulatory reporting obligations for registered brokers by at least one month. Normal schedules of March 31st, April 30th and June 30th have now been extended at least one month amid the worldwide Covid-19 pandemic that is causing significant disruptions in all aspects of business around the world.
As reported by our colleagues at Salvus Funds consulting, these dates may be adjusted further in the future. The impacted reporting requirements are as follows:
Meanwhile, the regulator has also announced that it is taking extraordinary measures to ensure business continuity – since March 16th almost all staff have been working remotely in an effort to reduce staff density at the office, with only the crisis management team working at CySEC premises, if absolutely necessary, in order to deal with urgent issues that may arise, according to the Commission.