Volume 21 - Issue 1 (March 2018)

South Africa’s stumbling forex probe

Janith Aranze

01 March 2018

Last year, the Competition Commission of South Africa accused a host of global banks and their affiliates of colluding on foreign exchange benchmarks. Despite similar probes by the enforcer’s peers around the world, the South African investigation has not exactly gone to plan, having bogged down in a procedural quagmire. Given the matter’s scale and profile, the commission needs to ensure the case does not fall apart.