Regulatory Alerts2019-04-05
G4/2019: Meetings to be held during the 2019 calendar year with the boards of directors of banks and controlling companies
The South African Reserve Bank's Prudential Authority mandates that banks with assets exceeding R50 billion present to their boards on the 2019 theme of creating an ethical culture. The guidance requires a 45-minute presentation by the Social and Ethics Committee chairperson detailing governance frameworks, codes of conduct, and compliance with the Banks Act and King IV principles. Institutions must submit presentation materials two weeks in advance and return signed acknowledgements of receipt from both the CEO and external auditors.
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