Tag: Conduct of Financial Institutions (COFI)
COFI market conduct rules – what financial advisers must know
The soon-to-be-enacted Conduct of Financial Institutions (COFI) Bill is the next step in South Africa’s outcomes-based, principles-led market conduct regulation. Once effective, the Act will consolidate conduct-related provisions from multiple financial services sector laws into a single framework.
Redefining financial advice – from transactions to partnerships
What distinguishes leading financial advisers today is their ability to provide practical, ethical and customer-focused guidance that adapts to changing environments. In a climate shaped by economic volatility and regulatory reform, advisers are stepping beyond product sales to become long-term strategic partners to their customers. This shift is already well underway.
2025 budget and tax reforms – opportunities for financial advisers
As South Africans braced for a heavier tax burden, the 2025 Budget Speech delivered a mix of relief and reality. While tax increases were lower than feared, financial advisers will soon need to navigate a complex landscape of regulatory reforms.
A checklist for SA fintech companies preparing to take wing
A growing number of South African fintech companies have developed market-ready products and are considering how to expand beyond the relatively small domestic arena. In doing so, they face a list of new issues. These include how to raise funds for growth, how bringing in international funding will affect their local Broad-Based Black Economic Empowerment (B-BBEE) status, and how they will be affected by changing regulations in the pipeline.
No legislation enables the FSCA to beget transformation – part 2
The Financial Sector Conduct Authority (FSCA) wishes to usurp the Broad-Based Black Economic Empowerment (B-BBEE) role of the Minister of Trade and Industry, to make missing a transformation target an offence, and to make the Sector serve two masters (continued from PART 1).
National Treasury sheds light on its thinking around retirement reform
In a recent conference, National Treasury Acting DG Ismail Momoniat explained National Treasury’s views on the two-pot retirement system, governance of umbrella funds and changes to Regulation 28. Ismail Momoniat, Acting Director-General at National Treasury (NT), addressed the recent Pension Lawyers Association Virtual Conference in May 2022 with an update on retirement reform developments.
Conduct of Financial Institutions Bill published
The draft Conduct of Financial Institutions (COFI) Bill has been published by the National Treasury for comment. Comments will be accepted until 1 April 2019.
