Regulatory Alerts2016-02-09
Meetings to be Held During 2016 with Boards of Directors of Banks and Controlling Companies
The South African Reserve Bank’s Office of the Registrar of Banks requires all banks, controlling companies, and foreign branches to conduct 2016 board meetings centered on IFRS 9 implementation and cyber security governance. Each institution must deliver a forty-five-minute presentation outlining planning progress, impact assessments, and risk management frameworks, while submitting copies at least three weeks prior to the scheduled meeting. The guidance further mandates that chief executives and independent auditors sign and return acknowledgement forms to confirm compliance with these supervisory expectations.
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