Regulatory Alerts2016-12-14
D8/2016 Reporting Requirements for Material Outsourced and Critical Third-Party Service Providers
The regulator issues standardized reporting templates requiring financial institutions to disclose detailed information on their top fifteen material outsourced service providers and critical third-party service providers. These templates mandate the reporting of exposure values, contract terms, industry classifications, operational risk exposures, contingency plans, and identified alternate providers across technology, finance, utilities, and communications sectors. All monetary figures must be recorded in thousands of South African Rand using applicable exchange rates to ensure consistent, comparable sector-wide risk assessment.
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