South Africa’s Competition Commission has reached an agreement with Citibank for its role in a forex trading cartel, the antitrust watchdog said on Monday. The commission said in a statement Citi would pay a fine of R69.5-million rand ($5-million), less than the 10% of South African annual turnover that it said banks would pay because it “undertook to cooperate with the commission.”
Source: www.engineeringnews.co.za
Competition Commission settles with Citi over currency rigging
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