Published: 7th April 2020

In response to the current situation, the FCA, the Financial Reporting Council (FRC), and the Prudential Regulation Authority announced a series of actions to ensure the continued functioning of capital markets and information flow. The FCA has issued a statement clarifying that publicly listed companies facing problems with corporate reporting due to Coronavirus will be subject to temporary relief.

Specifically, the temporary relief grants two additional months to listed companies which need the extra time to complete their audited financial statements.

The FCA has also highlighted that during this period, it is as important as ever that the market is kept up to date with information. The Market Abuse Regulation (MAR) remains in force and companies are still required to fulfil their obligations concerning inside information as soon as possible unless a valid reason to delay disclosure under the regulation exists.

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