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Guidance Note 000a

GUIDELINES FOR THE EXEMPTION FOR GROUP REPORTING


Introduction

Following the gazetting of the Amended Financial Sector Code (Amended FSC) on 1 December 2017, Statement 000 requires that all entities measured under the Amended FSC comply with the following clauses when reporting:

“8.4 Each financial institution, irrespective of the fact that it is a member of a group, must be measured and reported on its own; and 8.5 A financial institution that is a member of a group may be measured and reported on as part of the South African group provided that such group reporting is approved in advance by the Financial Sector Council."


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