COVID-19: FCA Updates Webpage on Changes to Regulatory Reporting
On May 11, the Financial Conduct Authority (FCA) updated its webpage on changes to regulatory reporting during the COVID-19 pandemic.
The FCA explained on its webpage in February 2021 that firms could apply for a two-month extension to the deadline for FIN-A (annual report and accounts) submissions due up to and including July 31. This February 2021 entry has now been removed and replaced with a May entry, which makes it clear that for this return only, firms will have an “automatic” two-month extension to the deadline for submissions up to and including July 31.
The FCA continues to advise that this flexibility is intended to cover situations where COVID-19 has made it impractical to finalize audited financial statements. If firms are able to submit FIN-A on time, then they should do so. In any event, firms should submit FIN-A as soon as they are reasonably able to, and no later than September 30.