Regulatory Alerts2024-09-11
Proposed Amendments to the Banks Act Regulations Deletion of BA Returns
The Prudential Authority proposes deleting all Banks Act returns and their completion instructions from the current Regulations, effective 1 January 2025. These returns will subsequently be issued separately as Directives or determinations under Prudential Standards to support the Umoja System Implementation Project and Basel III reforms. Regulated institutions and their auditors must comply with the revised framework by adopting the new submission formats and returning the signed acknowledgement of receipt to the Authority.
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