Regulatory Alerts2019-04-01
G2/2019: Meetings to be Held During 2019 with Executive Management of Foreign Branches
The Prudential Authority issued Guidance Note 2/2019 requiring foreign branches and their external auditors to conduct focused executive management meetings during 2019. Branch chief executives must deliver approximately 60-minute presentations detailing effective capital and liquidity risk management practices, including committee functions, funding strategies, stress testing, and contingency plans. Additionally, branches must submit presentation copies three weeks before executive committee meetings and return a jointly signed acknowledgement of receipt to the Authority.
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