The Financial Sector Conduct Authority (FSCA) has welcomed the Financial Action Task Force’s (FATF) decision to remove South Africa from its list of jurisdictions under increased monitoring – commonly known as the grey list.
This milestone acknowledges South Africa’s substantial progress in strengthening its anti-money laundering (AML) and counter-terrorist financing ...
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By Lee Rossini
With the Conduct of Financial Institutions Act (COFI Act) expected to take effect in South Africa in 2026, followed by a transitional phase of roughly three years, financial services businesses should start preparing now. The Act represents a major change in how market conduct is regulated, aiming to create a unified, principles-based framework focused on fair client outcomes. Early preparation will help institutions adapt smoothly and position themselves competitively. Here are some guidelines:
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