Regulatory Alerts2023-02-23
Added · Updated
Amendments to Proper Conduct of Banking Business Directive No. 301 Regarding Board of Directors
The Banking Supervision Department amends Proper Conduct of Banking Business Directive No. 301 to align the questionnaire and declaration for candidates for officeholder positions at banking corporations with the Criminal Information and Rehabilitation of Offenders Law, 5779-2019. The updates modify specific sections of the Appendix A questionnaire to reflect current legal standards regarding criminal records, pending investigations, and rehabilitation, while replacing references to outdated laws and supervisory authorities. A new consent form for the release of information from the criminal register is added to the candidate’s declaration, and Section 5.8 of the questionnaire is canceled. These amendments apply to banking corporations and merchant acquirers and take effect upon the publication of the circular.