Forex enforcement cut down by South African tribunal

Janith Aranze

12 June 2019

Forex enforcement cut down by South African tribunal

US dollar and South African rand (Credit: iStock / Ochotnicka)

The Competition Tribunal of South Africa has ruled it does not have jurisdiction over nine financial entities accused of rigging foreign exchange rates, and has ordered the antitrust enforcer to amend its complaint referral after finding the original referral lacked “focus and consistency”.