On the 9th June 2015, the MFSA informed the industry that the submission of the Financial Return 2B will now be automated, in order to facilitate the reporting requirements pertaining to Fund Managers. Thus, moving forward, the Return will be submitted through the MFSA Licence Holder Portal, accessible here. The usual submission of such returns via email and mail will no longer be required. The submission of the following to the MFSA in hard copy will however still be required by Fund Managers:
- Representation Sheet – Sheet 7 of the Financial Return 2B – within one month from the reporting date;
- Audited Annual Financial Return 2B (entire return) – within four months of the accounting reference date.
Further guidance regarding this process will be sent to each Fund Manager individually by 12th June 2015. Fund Managers which do not receive this communication are to contact the MFSA by such date.
This step was taken by the MFSA in order to simplify regulatory reporting requirements, lowering costs to such licence holders in the process. The MFSA encouraged Fund Managers and Auditors to provide their feedback on this new system by 19th June 2015. A copy of the Circular is accessible here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.