The Financial Sector Conduct Authority (Authority) intends to replace the current compliance reports with the proposed Conduct of Business Report (COBR) that was published for public comment on the official web site of the FSCA.
The proposed COBR was necessitated by the changing regulatory landscape and the focus on outcomes based regulation and proactive supervision. It further seeks to address the inefficiencies created by requiring providers, regulated in terms of other laws administered by the FSCA, to submit the same information more than once to the FSCA.
The COBR was first published for comment on 6 December 2016. Due to the extensive changes made to the first draft of the COBR, the Authority deemed it necessary to publish the COBR for a second round of public consultation.
Interested parties are invited to submit written submission on the proposed COBR to email@example.com by 18 July 2018.