The Financial Conduct Authority has offered an extended deadline to submit regulatory reports in the coming months as part of the watchdog's latest move to help firms navigate the impact of the Covid-19 pandemic.
In an update on its website the regulator confirmed the change applied to submissions due up to and including June 30, with extensions of between one and two months for varying regulatory returns.
The FCA has also waived its fee for late returns for small and medium-sized businesses, those paying less than £10,000 in fees and levies in the current financial year, up until the end of June.
The FCA said: "You are still expected to submit your return as soon as possible and should you miss a deadline, in the period up to June 30, the FCA will send a reminder letter to you."
The extension is the latest in a list of changes implemented by the FCA in a bid to help firms manage the coronavirus fallout, as the regulator itself continues to shed non-critical work in light of the pandemic.
Earlier this week the watchdog granted an additional year for advisers to complete professional qualifications, and promised no action against any firm where an employee was delayed in gaining a qualification because of cancelled exams during the lockdown.
However, one area in which the FCA stood firm was the professional indemnity insurance market. On Tuesday (April 23) the regulator warned the crisis was no excuse for advisers not to renew their cover "in a timely manner", saying the market was still functioning.
rachel.mortimer@ft.com
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