In The News

No other banks have sought a settlement like Citibank, says Competition Commission

PARLIAMENT – No other banks implicated in the currency rigging scandal have yet followed Citibank’s lead and sought a settlement agreement with authorities, the Competition Commission said on Tuesday. Commissioner Tembinkosi Bonakele told MPs: “There are no other settlements and there are no discussions to settle with other banks at this stage.” Bonakele said there […]

In The News South Africa

ABSA responds to Competition Commission on collusion prosecutions against 17 major banks

JOHANNESBURG, February 15 (ANA) – Absa said on Wednesday, it would cooperate with the Competition Tribunal following the Competition Commission’s decision to refer a collusion case against several banks for prosecution. The Commission referred a collusion case to the Tribunal for prosecution against 17 major banks, including South Africa’s Absa, Investec and Standard Bank. “Absa […]