This year, banks will have to start including information in their annual reports on compliance with the Banking Code. The Monitoring Commission Banking Code will issue a report on compliance later this year.
In December 2010, the Commission issued a preliminary report on the manner in which banks had prepared for the introduction of new reporting requirements. The Commission focused, in particular, on the “customer-centred”, “risk management” and “governance” themes.
Next year, the Commission will report comprehensively on the Banking Code, based in part on its review of remuneration practices.