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This life is very cruel'. A South African antitrust regulator said it found that more than a dozen international and local banks colluded to manipulate foreign-currency trades and recommended some of them be fined 10 percent of their annual turnover.

It referred the case to an antitrust tribunal, concluding an investigation that began in They also created fictitious bids and offers, distorting demand and supply in order to achieve their profit motives. Barclays Africa Group Ltd.

Credit Suisse said it is looking into the matter. The tribunal will now notify the banks of the complaint and ask them to respond, Chantelle Benjamin, a offucer for the body, said by phone.

The banks will then file statements and attend a preliminary meeting to set a date for a full hearing, she said. Those involved were forced to pay hefty fines.

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ZAR (South African Rand)

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Description:Feb 16, - Asief Mohamed, chief investment officer at Cape Town-based Aeon South Africa's efforts to better regulate foreign-exchange trading follows a.

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Zolozshura #1 12.02.2018 alle 19:38 dice:
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