Foreign banks can be charged again for price-fixing
Competition Appeal Court rules that commission can charge foreign banks for anticompetitive behaviour if they have a ‘personal connection’ to SA
28 February 2020 - 18:57
The Competition Appeal Court has given the Competition Commission a reprieve by ruling on Friday that it can again charge foreign banks over price-fixing of the rand.
The ruling allows the commission the scope to charge the foreign banks or any offshore corporation in future with collusive conduct provided it shows the companies have a “personal connection” to SA and proves that the cartel behaviour had a “substantial, direct and foreseeable” effect on SA...
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