Regulatory Alerts2007-01-14
C8/07: Amendments to the legal framework relating to banks
The South African Reserve Bank issued Circular 8/2007 to notify banks and foreign branches of substantial amendments to the legal framework governing banking regulation and supervision. These changes, resulting from the Banks Amendment Act of 2007 and related regulatory updates, align local standards with international requirements and take effect on 1 January 2008. Recipients are required to return a signed acknowledgement of receipt from both their chief executive officer and independent auditors to the Registrar of Banks.
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