Labuan FSA confirms relief measures for registered companies

Labuan Financial Services Authority (Labuan FSA) has announced Temporary Regulatory Reliefs (TRRs) for Labuan entities to cushion the impact and disruption to business operations caused by the coronavirus pandemic. The TRRs are intended to provide administrative and financial relief to Labuan entities during the COVID-19 crisis and facilitate uninterrupted business and market operations in Labuan IBFC. Labuan FSA said the TRRs provide: (i) Governance and Conduct Regulatory Relief, such as allowing for virtual Board meetings, a reduction in the prescribed Continuous Professional Dev...