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Price fixing: Rogue traders or bank collusion?

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Cape Town – The Competition Tribunal will need to establish whether the manipulation of foreign-currency trades was done by rogue traders or whether it was more widespread at the 17 banks identified by the Competition Commission on Wednesday.

That is according to Patrice Rassou, head of equities at Sanlam Investment Management in Cape Town.

“We need to establish if it’s a rogue trader or if this more widespread,” said Rassou. “This could result in fines, but the Reserve Bank will ensure that it doesn’t cause disruption in our capital markets.”

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