Regulatory Alerts2004-07-09
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Review of the Standard of Corporate Governance in Banking Institutions
The Registrar of Banks issued Banks Act Circular 13/2004 to initiate a corporate governance review of all remaining banking institutions in South Africa, excluding the five major groups previously assessed. This examination will evaluate compliance with the Banks Act, Mutual Banks Act, and the recommendations of the Myburgh Working Group and King Committee to ensure adherence to sound international standards. The Office requires institutions to acknowledge receipt of the circular and return signed forms from both the chief executive officer and external auditors.
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