Regulatory Alerts2019-02-05
Status of Previously Issued Guidance Notes (G1/2019)
The South African Reserve Bank’s Prudential Authority issued Guidance Note 1/2019 to establish an annual notification process confirming which previously issued guidance notes remain effective for banks, controlling companies, and auditors. All prior guidance notes are automatically deemed withdrawn or replaced unless explicitly confirmed in the current year’s first guidance note, with twenty-nine specific notes retained under their original numbers and dates. Institutions must retain copies of the confirmed notes and return a jointly signed acknowledgement of receipt from their chief executive officer and external auditors to the Prudential Authority.
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