Competition Commission asks top court to keep information from companies
Standard Bank is seeking access to documents the body has compiled on price-fixing in the foreign exchange market
In a precedent-setting case, the Competition Commission has gone to the Constitutional Court to prevent companies, including Standard Bank, from accessing information gathered on them during investigations. The commission told the apex court on Tuesday that giving Standard Bank access to information it has gathered against 23 lenders accused of price-fixing in the foreign exchange (forex) market will give it an unfair advantage. The commission’s lawyer, Tembeka Ngcukaitobi, said premature access could enable Standard Bank to hold back any information it realises wasn’t part of the commission’s investigation. At the same time, but in a separate matter, the commission also asked the Constitutional Court to prevent six companies suspected of collusion on an Eskom tender from accessing its investigation’s documents. The companies are Waco Africa, Tedoc SGB Cape, Superfecta SGB Cape, Mtsweni SGB Cape, Tedoc Industries, Superfecta Trading and Mtsweni Corrosion Control. This is the first t...
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