Tag: Financial Sector Conduct Authority

The draft Conduct of Financial Institutions Bill was recently published. Once enacted, the CoFI Bill may become one of the first pieces of legislation that explicitly seeks to develop fintech regulation in South Africa.

On 1 April, a new regulatory model called Twin Peaks was implemented in South Africa. This will have a dramatic impact on the country’s future financial regulatory landscape. Many companies may not be aware that this model will have authority over every South African firm or business that offers a financial product or service. The good news for consumers is that this will potentially create one of the most progressive and extensive consumer protection regimes in the world.

The Financial Sector Regulation Bill was passed by Parliament and sent to the President for assent on 22 June 2017.  The Bill provides the...