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The European Securities and Markets Authority (ESMA) said it was aware that lockdowns in member states to prevent COVID-19 contagion present significant difficulties for fund managers and auditors to meet reporting deadlines.
“In the current situation, ESMA expects national competent authorities to adopt a risk-based approach and not prioritise supervisory actions against these market participants in respect of the upcoming reporting deadlines,” the regulator said in a statement.
“ESMA will continue to closely monitor the situation and will take or recommend any measures necessary to mitigate the impact of COVID-19 on timely and appropriate periodic disclosure by fund managers in respect of the funds they manage or market.”
