Regulatory Alerts2017-02-06
G1/2017 Status of Previously Issued Guidance Notes
The South African Reserve Bank issued Guidance Note G1/2017 to establish a yearly confirmation process for the validity of previously issued guidance notes. Under this directive, all prior guidance notes are deemed withdrawn or replaced unless explicitly confirmed in the first guidance note of that year, with a specific list of 27 notes retained as effective. Banks, foreign branches, controlling companies, and auditors must retain copies of these confirmed notes and return a signed acknowledgement of receipt to the Registrar’s office.
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