Bank collusion
Why some of SA's biggest banks face corruption, collusion charges
The Competition Commission has expanded its case in a matter related to collusion to fix prices and divide markets. The commission has now included other...
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More banks named in forex collusion case
At least 17 local and foreign banks have been implicated in price fixing and market allocation.
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Competition Commission refutes claims it is withdrawing collusion allegations
Fourteen banking entities were named by the commission in February as having been allegedly involved in illegal rand trades.
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Competition Tribunal confirms Citibank's R69.5m settlement
The Tribunal has confirmed Citibank will now pay a fine of R69.5 million for its role in a cartel that manipulated the value of the rand.
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Competition Tribunal hears of R69.5 million Citibank agreement
Citibank has agreed to playing a role in a cartel that saw the value of the currency being manipulated.
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Competition Commission explains Citibank ‘collusion’ settlement
The commission says it has agreed to Citibank paying a fine of R69.5m because it needs their testimony in the currency manipulation case.
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SA anti-trust watchdog plans July hearing on banks in collusion case
The Competition Commission said last month it had found more than a dozen local and foreign banks had colluded to co-ordinate trading in the rand and the US dollar.
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Standard Bank CEO: We're puzzled by charges in forex fixing probe
Simphiwe Tshabalala says they don't actually know what the Competition Commission is accusing them of doing in the probe into alleged currency manipulation.
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Reserve Bank wants accountability in rand-rigging scandal
The central bank wants commercial lenders involved in the currency-rigging scandal to be held accountable.
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Maria Ramos ‘deeply regrets’ Absa involvement in collusion scandal
Ramos says the bank will continue to cooperate with the Competition Commission and Tribunal.
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Barclays Africa will cooperate in collusion probe - Ramos
Barclays-owned Absa is one of 18 financial institutions, local and international, implicated in the alleged collusion to fix the price of the rand.
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ANCWL: Gordhan failed to adequately address bank collusion saga
During his Budget Speech Pravin Gordhan said price collusion should and will be stamped out in any South African market.
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Standard Bank in talks with Competition Commission in rand-rigging probe
Last week the Competition Commission announced that was referring a case involving 17 banks to the Competition Tribunal.
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Gordhan: Govt working to stop price collusion
Finance Minister Pravin Gordhan says price collusion should and will be stamped out in any South African market, whether it’s banking or bread.
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Tribunal to decide on further action against banks in price fixing scandal
The Competition Commission will be informed by the Competition Tribunal as to what further action can be taken against the banks.
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Competition Commission awaiting more responses in bank collusion probe
The Competition Commissioner says the investigation has now been referred to the Competition Tribunal with Citibank and Absa expected to testify as witnesses.
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Competition Commission urges full disclosure from all involved price fixing saga
The commission found that 18 financial institutions have been involved in manipulating the rand/dollar exchange rate.
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Citibank agrees to settle over forex fixing scandal
Last week, the case of 18 local and foreign banks - accused of manipulating the rand/dollar exchange rate - was referred to the Competition Tribunal.
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Banking shares extend losses amid bank collusion scandal
The banking index has been trading over 1% lower on Monday afternoon.
