COB (the FAIS categories in which the FSCA categorize FSP's and their representatives) focuses on understanding financial products within a specific sector, covering their general and unique traits, fee structures, risks, client suitability, economic influences, and relevant legislation like tax laws. Financial services providers can be licensed for 9 broad classes of product categories with subclasses.

9 Classes of Business:

  • Class 1: Short-term insurance for personal lines
  • Class 2: Short-term insurance for commercial lines
  • Class 3: Long-term insurance
  • Class 4: Pension fund benefits
  • Class 5: Short-term and long-term deposits
  • Class 6: Structured deposits
  • Class 7: Investments in various instruments
  • Class 8: Forex investments
  • Class 9: Health Services Benefits