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# South Africa's Prudential Authority directs banks to submit regulatory returns under Directive 1 of 2025
- URL: https://www.theglobalbanker.com/south-africa-s-prudential-authority-directs-banks-to-submit-regulatory-returns-under-direc/
- Published: 2025-01-31T14:31:00.000Z
- Updated: 2026-11-08T11:37:02.000Z
- Description: D1/2025, effective 1 February 2025, sets out the Banks Act returns banks must submit to the PA as the regulator works to move the returns out of the Regulations relating to Banks under its Umoja project.
- Author: TGB Editorial Team
- Tags: Regulations, Africa, #archive

South Africa's Prudential Authority (PA) on 31 January 2025 published Directive 1 of 2025 (D1/2025), directing banks, controlling companies and branches of foreign institutions to complete and submit specified financial, risk-based and other returns to the PA in accordance with the directive, with effect from 1 February 2025.

The directive was issued under section 6(6) of the Banks Act 94 of 1990 and signed by PA chief executive Fundi Tshazibana on 29 January 2025\. It covers the Banks Act (BA) returns, including forms BA 100, BA 110 and BA 120 through to BA 940, which are attached as annexures together with completion requirements. It lists 50 enclosures. Each set of returns must be accompanied by a signed and certified form BA 099, or form BA 099A for returns relating to a foreign operation, and certain returns are to be submitted to both the PA and the South African Reserve Bank's Economic Statistics Department.

#### RETURNS MOVE OUT OF THE REGULATIONS

The directive follows Directive 4 of 2024, issued on 11 September 2024, in which the PA said that, to support its Umoja System Implementation Project, it had decided to recommend to the Minister of Finance and National Treasury that all BA returns and the related completion instructions be deleted from the Regulations relating to Banks. The PA said the returns and instructions would in future be issued as directives under the Banks Act or as determinations under prudential standards made in terms of the Financial Sector Regulation Act 9 of 2017.

The directive describes the Umoja System as a digital interface between the PA and regulated institutions, aimed at providing a more integrated, efficient and transparent operating model. It says the Umoja team began engaging key interested parties on regulatory return developments towards the end of 2023.

Under D1/2025, the returns are to be completed in line with the directive's annexures read with the relevant requirements of the Regulations relating to Banks. Institutions were asked to make the directive available to their external auditors and to return an acknowledgement of receipt signed by both the chief executive and the auditors.