CORONAVIRUS (COVID-19): Support for Licensees

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The Financial Services Authority (“FSA”) would like to inform all its licensees and other stakeholders that it has initiated its Business Continuity Plan (“BCP”) protocols in order to ensure minimal disruption in its daily operations. The FSA would like to reassure all licensees, that it will continue to carry out its normal operations with the aim of maintaining its established service standards across all departments of the FSA.

The FSA encourages all licensees and stakeholders to be cognizant of their internal contingency plans vis-à-vis the situation surrounding the outbreak to equally safeguard its interest, and that of its clients.

As a precautionary measure, the FSA would appreciate for all its licensees and other stakeholders to, as much as possible, forward communications to the FSA by electronic means. Whilst it is important that letters are physically sent to the FSA it is advisable that a scanned copy of these are also sent.

It is encouraged also that payments be effected via electronic means such as through bank transfers via arrangements already in place with the FSA. Note that the FSA shall exert its discretion, subject to exigencies, in relation to certain normal practices such as face-to-face meetings in line with the recommendations issued by the Department of Health.

The FSA would appreciate for all licensees to remain informed of any official developments regarding the current situation as it progresses and to take the necessary actions and precautions. Simultaneously in the event of any major developments the FSA will advise with regards to any changes to the status quo should the circumstance so dictate.  

The FSA will like to advise all licensees that due to COVID-19 pandemic there are spam emails that are being circulated over the internet. If you receive such emails, we urge you not to click on those links within the emails. If you are unsure about any suspicious emails received from the Authority, please contact us to verify.

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