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Sunday, April 5, 2020
Home Services Central Bank Reporting COVID-19 Assistance to Corporate Service Providers

COVID-19 Assistance to Corporate Service Providers

As you may already be aware, the Irish government has declared national ‘lock-down’ measures to combat the spread of the COVID-19 coronavirus, including the closing of schools, colleges and childcare facilities.

This undoubtedly poses major challenges to companies. Staff may be encouraged or required to work from home in order to observe ‘social distancing’, or they may have to take additional time off work to care for children or elderly relatives.

There is considerable uncertainty regarding the duration of the lockdown, which at time of writing is in force until March 29th. It is possible that the lockdown may be extended until well into April to cover the Easter holidays.

As we have mentioned previously, the Central Bank has reminded firms of the need to make contingency measures in order to deal with the effects of the COVID-19 virus. This means ensuring that staff can work from home, and that sufficient capacity is in place in order to deal with any staff shortages during Central Bank reporting rounds.

Q1-2020 Central Bank FVC returns are due by 29th April 2020, and SPV returns are due by 14th May 2020.

Most if not all corporate services providers will be impacted by the COVID-19 mitigation measures, and with over 2,600 Central Bank returns falling due over this period – this will inevitably present difficulty for firms.

We are ready to assist at this difficult time. Atlantic Star Consulting operates a remote, fully-digital offering located outside of Dublin, which allows you to offload some of the pressure during this challenging period.

Our offering to Corporate Services Providers includes the following:

  • Fully outsourced CBI FVC/SPV reporting service (through Atlantic Star’s own ONR portal), or reporting via your own firm’s Central Bank ONR portal
  • Specialist expertise in Central Bank quarterly reporting, from both CBI and industry perspective
  • Encrypted transfer of documents for data security
  • Fully digital contract signing (DocuSign), including non-disclosure and associated protections to ensure confidentiality of client data
  • Remote video-conferencing & communication as required during the process (on high speed fibre broadband connection)
  • Option of either i) assisting during only this quarter, or ii) reporting on an ongoing basis

During this testing time for your business, it makes sense to have contingencies in place.

Please note that we will operate on a first-come-first-served basis, and will no longer be taking bookings for the Q1-2020 period after 10th April 2020.

Capacity is limited – so please get in contact as soon as possible to secure this service.

Contact us using the form below or at [email protected] in order to secure your spot:

Dominick Barrett
Dominick Barrett
Dominick is Managing Director of Atlantic Star Consulting.

Disclaimer: Nothing on this website constitutes legal advice, investment advice, tax advice or any other kind of advice of any sort. Information is provided as-is, and we are not responsible for the actions of you or any third party as a result of the information provided on this website. By accessing this website, you agree to be bound by our legal notice.


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