HILARY JOFFE: After aiming too high, the Competition Commission is left with a ‘shoplifting’ case
It failed to back up its case against 28 banks and is now left with a minor issue
If the Competition Commission has any sense it will move swiftly ahead with what little is left of its case against the banks for alleged rand manipulation. It’s been left with just five banks to prosecute, after the Competition Appeal Court threw out most of its case. The only way the commission can demonstrate it ever had a case at all is to take it to trial at the Competition Tribunal and show it can put a proper, if smaller case, together.
No doubt some in the commission will want to dig up grounds to appeal against the court’s decision at the Constitutional Court. But newish competition commissioner Doris Tshepe should be asking some searching questions of her cartel division in light of the ruling, which took the commission’s case to pieces — on the law, the evidence and jurisdiction. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.