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Multinational Standard Chartered Bank admits liability to currency manipulation case, agrees to pay R42m fine

The Competition Commission (Commission) has reached a settlement agreement with UK-based multinational bank, Standard Chartered Bank (“SCB”). In terms of the settlement agreement, SCB admits...

by Competition Commission South Africa

Commission welcomes Tribunal ruling ordering banks to answer the allegations against them in the Forex Cartel case

The Competition Commission (Commission) welcomes the decision of the Competition Tribunal (Tribunal) in which it dismissed applications/objections brought by various local and foreign banks to...

by Competition Commission South Africa

Money in the bag – An interesting judgment about the carrying of foreign currency

In terms of South African law, if a person is carrying foreign currency on his person while entering or leaving South Africa, there are certain...

by Louis Botha