CompCom says ‘still studying’ rand manipulation judgment
The Competition Commission says it's still studying a judgment handed down by the Competition Appeals Court.
The judgment sets aside the decision of the Competition Tribunal, which ordered a group of commercial banks to respond to all the charges around the manipulation of the rand/dollar exchange rate.
The case was dismissed against all South African Banks, with the exception of Investec, which opted not to appeal.
ALSO READ: Standard Bank, Nedbank deny manipulating the rand
"The judgment sets aside the decision of the Competition Tribunal that all accused banks to respond to all the charges taken against them by the Competition Commission for manipulation of rand/dollar currency,” says the commission's spokesperson, Siya Makunga.
"The commission is still studying the judgment and will, in due course, communicate its course of action."
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