Pretoria – The Competition Commission has noted reports in the media regarding its investigation into the price fixing of foreign currency against currency traders.
The commission said it issued a statement on 15 May 2015 announcing that it had initiated an investigation against BNP Paribas, BNP Paribas South Africa, Citigroup Inc., Citigroup Global Markets (Pty) Ltd, Barclays Bank Plc, Barclays Africa Group Ltd, JP Morgan Chase & Co, JP Morgan South Africa, Investec Ltd, Standard New York Securities Inc. and Standard Chartered Bank.
“Therefore, the reports suggesting that the Competition Commission has just started a probe into the fall of the rand are not accurate,” the commission said.
The Competition Commission said this is the only investigation it is conducting involving currency traders.
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