COFI Archives - Caveat Legal

Everything you need to know about COFI: The Conduct of Financial Institutions Bill

What is it, why does it exist and why is it important? The draft Conduct of Financial Institutions Bill (COFI) was released for public comment in 2018. COFI was drafted in conjunction with the Financial Sector Regulators Act of 2017 (FSR Act) as part of an extensive reform of the South African financial services legal […]

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COFI: More work to be done before it’s effective

Financial Services Law, Legislation / caveat

In July 2022, the Financial Sector Conduct Authority (FSCA) released its regulation plan for the next three years (2022-2025). Most significant was the effective placing on the “back burner” of the conduct of financial institutions bill (COFI) which was previously anticipated to become effective in 2022. COFI has already been through two different drafts and

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Market conduct licence categories under COFI

Administrative Law, Financial Services Law / caveat

The implementation of the “twin peaks model” includes the enactment of the Conduct of Financial Institutions (“COFI”) Bill. COFI will be an umbrella piece of legislation embodying the principles of “treating customers fairly” (TCF) in order to regulate market conduct, and shall be governed by the FSCA. COFI will replace significant legislation including the Long-Term

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