EDITORIAL: Competition regulators must learn the lessons of the banks case
Nobody loves banks. But we all need our banking sector to be trusted
17 January 2024 - 05:00
The Competition Commission’s rand-rigging case against the banks is not over yet, even if just five of the 28 remain after the competition appeal court (CAC) trashed most of the commission’s case.
It’s been more than eight years since the commission began its investigations into what was essentially a New York-based US department of justice case — and pursued it obsessively, adding banks at random as it went along despite the flimsy evidence. It could be a few more years before SA sees the back of this one, especially if there are yet more appeals back and forth. ..
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