The Tribune

The Securities Commission has granted a 45-day extension for the filing of annual reports and audited financial statements to its various licensees and registrants due to the COVID-19 pandemic.

The regulator said filing deadlines under the Securities Industries Act and Investment Funds Act, which fall between 1 April 2020 and 30 June 2020 inclusive, have been extended by up to 45 days.

It added: “In order to be eligible for the extension, registrants and licensees are to write to the commission at info@scb.gov.bs, outlining the circumstances and detailing the date of the financial year-end and the new date (within the 45-day period) that the audited financial statements or annual report will be delivered to the commission.

“Once the commission has received the letter according to the terms outlined in this notice, the extension is deemed granted. This extension does not apply in cases where the commission has already granted an extension to a filing deadline for previously due audited financial statements.

“In such cases, the deadline of the previously granted extension shall remain in effect. Further, this extension does not apply to filing deadlines for interim financial statements.”

Licensees needing to notify the Securities Commission of material changes to their business and operations, which require the regulator’s approval, must notify it electronically in compliance with statutory filing requirements. Notices must be sent to info@scb.gov.bs.

In the case of public issuers, where there is a statutory requirement to notify the public of a material change, the company is required is to post the disclosure to its website until May 15 in addition to immediately notifying the commission electronically.