Regulatory Alerts2019-06-10
Added · Updated
Circular 01 of 2019: Additional Form 43 Requirements for Re-seller Credit Bureaux
Registered re-seller credit bureaux must report on specific compliance matters in their annual Form 43 reports, including adherence to prescribed purposes for issuing credit reports under Regulation 18(4) and restrictions on employment-related access under Regulation 19(12). Independent auditors are required to verify these compliance areas by obtaining copies of relevant policies and procedures. The circular also mandates reviews of information security policies, business continuity plans, and IT infrastructure controls. Additionally, auditors must confirm that consumer credit information is destroyed within 72 hours of receipt by running system scripts to verify data age.
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