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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

South African Competition Commission

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South Africa

South African Competition Commission Appeals Dismissal of Currency Manipulation Charges

The South African Competition Commission seeks leave to appeal the judgment of the Competition Appeal Court, which dismissed currency manipulation charges against numerous local and international banks. The court had rejected the commission's case against 23 out of 28 banks accused of manipulating the rand-dollar exchange rate between 2007 and 2013. The appeal application targets 13 banks, including Standard Bank and Bank of America, according to commission spokesperson Siyabulela Makunga. […]

todayFebruary 7, 2024 25

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Business / Economics

Competition Appeals Court deals blow to South African rand manipulation case

The South African Competition Commission’s rand-rigging case has been dealt a massive blow, as the Competition Appeals Court dismissed 23 of the 28 implicated commercial banks, saying the commission lacked enough evidence to support its claim of a conspiracy to manipulate the rand-dollar exchange rates between 2007 and 2013. However, Investec, JPMorgan Chase, HSBC, BNP Paribas, and Credit Suisse still face potential prosecution. Separately, Moneyweb reports that Standard Bank has […]

todayJanuary 9, 2024 11

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