Regulatory Alerts2018-12-07
D5/2018: Completion of Return Relating to Operational Risk (Form BA 410)
The South African Reserve Bank Prudential Authority directs banks, controlling companies, and foreign branches to shift their operational risk reporting (Form BA 410) from a semi-annual to a quarterly frequency. Institutions must submit their first quarterly return for the period ending 31 March 2019, followed by subsequent filings within twenty working days for solo bases and thirty working days for consolidated bases. The directive also mandates that signed acknowledgements of receipt be provided by both institutional chief executives and external auditors to confirm compliance with the updated reporting schedule.
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