Regulatory Alerts2007-01-24
South African Reserve Bank Circular 3/2007: Board Director Meetings for 2007
The South African Reserve Bank issued Circular 3/2007 to mandate structured board of director meetings for all domestic and foreign bank branches during the 2007 calendar year. Institutions must present on two priority topics: maintaining a comprehensive board directorship continuity programme and actively overseeing the implementation of the revised Basel II capital framework. The regulator will supply a detailed agenda one month prior, limit its own presentation to thirty minutes, and require signed acknowledgements from both chief executives and independent auditors.
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