Regulatory Alerts2006-01-15
Proposed Amendments to the Branch Regulations
The South African Reserve Bank's Registrar of Banks issued proposed amendments to the Branch Regulations to update the regulatory framework for foreign bank branches. All banks, mutual banks, and foreign representative offices must review the draft amendments and submit written representations by 30 September 2006. The circular also requires the chief executive officer and independent auditors to jointly sign and return an enclosed acknowledgement of receipt form.
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