Footloose currency fixers
The case that the Competition Commission is trying to make over currency manipulation faces two major obstacles – jurisdiction over foreign banks, and establishing who really got hurt
27 June 2019 - 05:00
A leading international competition expert has welcomed the Competition Tribunal’s recent decision not to dismiss a currency manipulation case against 23 banks, given the restrictions imposed by international principles of jurisdiction.
The Competition Commission might have thought it was dealing with a reasonably straightforward case back in 2015, when it launched an investigation into the suspected manipulation of the foreign exchange market...
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