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FSCA provides clarity on REs – Impact of COVID-19 on regulatory requirements

In the midst of individuals scurrying around, trying to understand how the 21 day lockdown will impact on them, the FSCA provided guidance on various arrangements in respect of submission of statutory returns and fit and proper related deadlines. One of the biggest questions that most individuals had was what the impact on Regulatory Exams is.
Here is the FSCAs response:

All Regulatory Examinations with a deadline for 2020 will be extended to 15 December 2020.
Due to the nationwide lockdown from tonight 26 March 2020 to midnight 16 April 2020, Regulatory Examinations will be suspended for the time being. The situation will be monitored and further clarity will be communicated in due course regarding REs post-16 April 2020. In light of the lockdown, all exams that have already been scheduled to take place between 26 March 2020 and 16 April 2020 will have to be postponed.
Postponement of examinations: Candidates may postpone their examinations. Postponements will not attract any penalties or additional fees. Candidates should contact Moonstone on
Cancellation of examinations: Where Moonstone cancels an examination session, candidates will be informed timeously and given an opportunity to reschedule another session at no additional costs. Where a candidate cancels his/her examination booking, then the usual cancellation policy and penalties will apply. View the cancellation policy here.

Click here to download the FSCA Communication 9 of 2020.

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