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BANKING INDUSTRY: OPERATIONAL RISK REPORTING REQUIREMENTS TO CHANGE
- 04 October 2023
- Financial Sector
- SA Legal Academy
The Prudential Authority has called for input by 7 November 2023 on two draft directives that, once in force, will strengthen measures already in place for operational risk reporting by banks, controlling companies, the branches of foreign institutions, other eligible institutions and their auditors.
Focusing on the completion of certain forms submitted in keeping with regulatory requirements, once finalised and in force the draft directives are expected to ‘ensure consistency’ in the interpretation of what is expected by the authorities concerned when applying the ‘standardised’ approach envisaged.
- draft directive on completing form BA 400
- Annexure A
- proposed new BA 400
- draft directive on completing forms BA 410 and BA 420
- proposed new BA 410
- proposed new BA 420
Published by SA Legal Academy Policy Watch
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