The Commission is today stating that late filing fees will not be applied in respect of all regulatory returns that are due to be submitted between now and the end of June provided they are submitted within two months of the original deadline.
Although the timelines on the Commission’s Online returns portal for returns will not be altered so the original dates will still show, the Commission will not charge late fees for returns which are less than two months overdue. Furthermore, the Commission will not seek to take any regulatory action relating to firms for late filing unless there are other issues which require it to act for investor protection, financial stability or financial crime prevention reasons.
Firms should keep their supervisory contact at the Commission notified of any significant developments in their financial circumstances and those that are able to submit before the end of the delayed submission window are encouraged to do so. Auditors are also reminded of their obligations to notify the Commission as soon as possible if they become aware at any time of potentially serious issues arising within a firm or fund which they are auditing.
This news item was originally published by the Guernsey Financial Services Commission (GFSC GG). For more information, see the Source Link.