Regulatory Alerts2023-03-09
G2-2023 - Flavour of the year
The Prudential Authority issues Guidance Note G2-2023 to mandate discussions with South African banks and foreign institution branches regarding the 2023 flavour-of-the-year topics of organisational resilience and climate-related risks. This document specifically details the requirements for organisational resilience, instructing banks to prepare high-level presentations for their boards and executive management that address governance, risk management, and ICT security. Regulated institutions must submit a written acknowledgement of receipt signed by the Chief Executive Officer to the Prudential Authority within ten working days of receiving the guidance.
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