This is why Turkey is in meltdown – and why it is dragging the rand down with it

2018-08-13 14:12

Turkey has grown at breakneck pace and amassed debt in the process. Now, 8,000km away, South Africa is one of the countries paying the price.

Managing foreign exchange volatility

2018-06-11 13:55

Alison Barker, owner of FX Solutions Wealth, provides a health check on the rand and tips for managing foreign exchange volatility.

Google is banning all bitcoin, ICO, and cryptocurrency ads from June

2018-03-14 13:49

The new rules come into force in June and also crackdown on adverts for financial products.

More banks named in forex collusion case

2018-01-28 17:02

The Competition Commission in December 2017 filed a supplementary affidavit requesting the addition of more banks in the forex collusion case.

Competition Commission won’t take it easy on banks hoping to settle on forex cartel matter

2017-08-31 05:00

The Competition Commission says banks implicated in the forex cartel matter should not expect the same kind of settlements reached with other banks.

Forex 'cartel' lays into commission

2017-05-14 06:26

Major banks are not taking accusations of colluding in trading lying down.

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.

 

RAND DROPS!

2018-06-21 20:00

The rand lost almost 1% against the US dollar after South Africa's current account deficit came in worse than expected and a lot worse that the previous quarter's print.

Standard Bank’s ‘abuse of process’

2018-04-29 06:00

The battle between the Competition Commission and Standard Bank in the forex-fixing case took a step up this week, with the competition watchdog accusing the bank of “a clear sign of an abuse of process”.

China levies record $870m fine for stock manipulation

2018-03-14 13:17

China has slapped a logistics company with fines totalling $870m for manipulating the stock market, the biggest ever punishment for such an infringement.

Banks being tjatjarag, says commission

2017-09-03 06:00

The “pretrial skirmishes” that are stalling the Competition Commission’s case of forex rigging against banks are starting to irk the watchdog.

Profit Trading founder arrested

2017-06-18 07:10

A Pietermaritzburg businessman who founded alleged Ponzi scheme Profit Trading was arrested by the Special Commercial Crimes Unit on allegations of fraud at a Sandton Hotel.

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.

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