ARTICLES RELATING TO FOREX

Forex intermediaries vs forex traders

2017-03-06 18:06

Just like the rest of the banking world, foreign exchange services are being shaken up thanks to the rise of financial technology (fintech) players.

Collusion case strengthens Zuma's hand in battle with banks

2017-02-20 09:13

A finding by the Competition Commission that 17 banks colluded to rig foreign-currency trades will bolster accusations that banks are monopolising the financial system.

Business Leadership SA supports banks investigtion

2017-02-17 19:28

South Africa is founded on a free-floating currency and cannot be compromised by interference in the market, says Business Leadership SA, following banking collusion claims.

Bank probe timing couldn’t be worse amid Gupta blacklisting - expert

2017-02-16 12:00

The decision to prosecute 17 banks for foreign exchange collusion is badly timed for South Africa's top four banks, who are trying keep the moral high ground.

Price fixing: Punish guilty banks harshly, urges ANC

2017-02-15 20:36

The ANC has lashed out at banks accused of manipulating foreign currency trades, with the SA Reserve Bank saying it sees the allegations in a serious light.

SABMiller deal boosts net reserves to $42bn

2016-10-07 11:24

South Africa's net foreign reserves have increased to $41.953bn in September from $40.795bn the previous month on the SABMiller/Anheuser-Busch InBev deal.

SABMiller to close South Sudan unit

2016-01-15 18:00

SABMiller will close its brewery in South Sudan in March due to difficulties in obtaining foreign exchange to buy raw materials.

Why the Bok defeat is bad for your money

2015-09-27 15:48

Amid all the controversy about the selection of the Springbok team, your money needs them to win.

Broker knock for SA's youngest millionaire

2015-08-27 07:15

The licence of the preferred broker of South Africa's youngest millionaire has been withdrawn.

SA banks face hefty fines over forex rigging

2015-06-09 07:59

The Competition Commission may impose some of its highest fines yet after its investigation on the suspected currency-rigging by global and local banks.

 

Exchange controls to get brush-over in budget

2017-02-22 09:39

Exchange controls have been effective in preventing tax evasion, but it is unlikely that changes to regulations will be mentioned in the National Budget.

What's the harm?

2017-02-19 06:02

Contrary to popular belief, the collusive damage wrought by 17 banks may be relatively minor.

Absa let off collusion fine as it helped regulators - source

2017-02-17 08:22

Barclays (which owns Absa) won’t be targeted for fines by the Competition Commission because they co-operated with regulators, according to people familiar with the matter.

Price fixing: Rogue traders or bank collusion?

2017-02-16 08:54

The Competition Tribunal will need to establish whether bank collusion to manipulate foreign-currency trades was done by rogue traders or whether it was more widespread.

Competition Commission prosecutes banks for collusion

2017-02-15 16:08

The Competition Commission has referred a collusion case to the tribunal for prosecution against 17 banks, including three of South Africa's big banks.

Standard Bank fined over forex violations

2016-06-29 11:53

Standard Bank's Angolan unit has been slapped with a fine by the central bank for foreign exchange violations, but the lender says it didn't breach any rules.

US forex broker says it has been hacked

2015-10-05 15:30

Online foreign exchange market broker FXCM says it has been hacked in an intrusion that has seen money withdrawn from some customers' accounts.

Sarb governor sees no benefit in forex intervention

2015-09-07 07:46

No amount of central bank involvement will stop a currency from aligning to what the macroeconomic fundamentals are, says Sarb governor Lesetja Kganyago.

Hawks put end to R100m pyramid scheme

2015-07-22 18:17

The Asset Forfeiture Unit says Platinum Forex, based in Parow, Cape Town, has collected more than R100m from unsuspecting members of the public.

Global banks fined nearly $6bn in forex probe

2015-05-21 07:58

Four major banks have pleaded guilty to trying to manipulate foreign exchange rates and, with two others, were fined nearly $6bn.

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