UK Banks Allowed To Submit Late Annual Reports Amid Virus

Law360, London (February 5, 2021, 2:43 PM GMT) -- The Bank of England's regulatory body announced on Friday that British banks and investment businesses whose work has been hit by COVID-19 will be allowed an extra two months to file their annual reports.

The Prudential Regulation Authority expects that factors, such as recent pandemic-related restrictions and a rise in virus cases, could mean businesses will need more time to work with their auditors to complete their annual reports and accounts.

"The requirement for this report to be audited may make timely submission challenging for some firms," the PRA said, as it urged companies to keep it abreast of developments within...

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