FCA extends regulatory reporting deadlines
The FCA is offering firms a two-month extension for firms to file their regulatory reports and accounts and has waived late reporting fees until the 30th June to help firms mitigate the impact of Covid-19.
The two-month extension applies to the FIN-A annual report and accounts as well as other annual financial reports and complaints returns.
The extension applies for submissions that are due up to and including 30 June 2020.
For example, if firms have a return due on 22 May 2020 but a two-month extension has been granted, the submission will need to be completed by Wednesday 22 July 2020.
Returns not included in the FCA's list do not have an extension and firms must submit their data in the usual timeframe.
For small or medium-size businesses (paying less than £10,000 in fees and levies in 2020/2021) the administrative fee for late returns has been waived until 30 June 2020.
In its statement, the FCA said: "You are still expected to submit your return as soon as possible and should you miss a deadline (in the period up to 30 June), the FCA will send a reminder letter to you."
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