CompCom to approach apex court on currency manipulation
The Competition Commission will approach the Constitutional Court as it seeks to appeal the decision of the Competition Appeal Court in the currency manipulation scandal.
In January, the Appeals Court dismissed the Commission's charges against 23 banks it wanted to prosecute for alleged currency manipulation.
The judgment set aside the decision of the Competition Tribunal which orders all accused banks to respond to charges placed against them by the Commission.
ALSO READ: CompCom says ‘still studying’ rand manipulation judgment
The case was dismissed against all South African Banks appealing except for Investec Bank, which opted not to appeal.
The commission says taxpayers need to know if these banks colluded to fix the rand/dollar currency.
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