New york opens new front in forex probe - Top HSBC manager charged in forex probe - BBC News
The traders, who regulators say were part of an illicit project to fix the price of the rand since at leastinclude Bank of America's Gavin Cook and Credit Suisse's Christopher Hatton, according to a complaint against a group of lenders published by South Africa's Competition Commission.
Two others named in the document, ex-BNP Paribas employee Jason Katz and former Citigroup trader Christopher Cummins, have pleaded guilty forex bot 37 allegations in the US for rigging emerging-market currencies, which include the rand.
The Competition Commission, which investigates cases, submitted the complaint to the Pretoria-based Competition Tribunal, which opend hear the merits of the case before deciding on what penalties should be imposed, if any.
The commission is urging that most of the banks be fined for colluding and manipulating trades in the rand.
The process should be shorter than most antitrust cases, due to the straightforward nature of the matter, a person familiar with the matter said on Rboptions trading house. Regulators aren't seeking specific action against individual traders, but are likely to make demands to change incentives that may encourage dealers to push boundaries, the person said.
Vanessa Neill, a spokeswoman for Credit Suisse in London, declined to comment. Barclays Africa Group and Citigroup are cooperating with regulators to avoid a fine, people familiar with the probe said Thursday.
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Investec said in a statement on Friday the case is confined ned a single trader and will seek more information from regulators. The European Union is moving towards settlement talks in its own investigation into banks' currency dealings, people familiar with the matter said in November.
The EU has refused to identify its targets. SABC South Africa's Agriculture Minister Senzeni Zokwana on Friday warned businesses suspected of profiteering from a drought by raising the prices of staples such as bread would face the wrath of competition authorities. The government handed over the cash because the company reclaimed the costs of decommissioning against the tax it had paid in previous years.
CWI-India 20 Forex market open days The following is an eye witness account by a garment worker on the first massive strike by garment workers in Bangalore. Tens of thousands of workers majority women came out on the streets against the proposed restrictions on the withdrawal of amount in the fkrex fund PF scheme.
Fearing a spread of working class protests across the country, the Union govt.
The practice took root in the giant country after relative peace descended on it in the years after Joseph Kabila was elected president in January Monsanto is being pushed by the government of Prime Minister Narendra Modi to accept the dictated government price, as India expects to develop its own genetically modified GM cotton varieties early next year.
Panama Papers name eight Chinese leaders Massive clampdown by state censors Vincent Kolo chinaworker.
It has also, predictably, brought forth a wave of repression. Russia Today 31 March Saudi Arabia announced that it is building a drone plant in cooperation with South Africa, but a well-known Saudi defense analyst claimed this is a guise to nee the clandestine purchases of aircraft from Israel.
Solidarity with Nuno Dala hunger strike! Journalist Jia Jia arrested as media climate darkens Repression increasing but splits also emerging within Chinese party-state China Worker 21 March Yet another Chinese journalist has surfaced in police custody after mysteriously disappearing.
Is the deal a good or bad for SA farmers? The demonstrations were the latest in a wave of anti-government rallies that lost momentum late last year but have regained strength as a sweeping corruption investigation nears Rousseff's inner circle.
Eye Witness News 10 March Deputy President Proeb Ramaphosa a2 stock sling options because he has been summonsed in his personal capacity over the killing of striking mineworkers at Marikana inhe has recused himself from any involvement in implementing the recommendations, of the Farlam Commission of Inquiry into the tragedy.
Lula, who held the country's top office from tois accused of being involved in corruption schemes with state-owned oil major Petrobras.
Outrage over the arrest of the left-wing opfns leader, who had organized a rally to mark the anniversary of the execution of a Kashmiri separatist, has led to demonstrations in at least 18 universities. This institutional murder has led to a wave of solidarity actions all across the country of India in an unprecedented manner.
The duopoly wants to limit how we use Internet services like WhatsApp openx and it has nothing to do with fairness, competition or the future of South Africa. Marches have taken place across the city.
Workers marched from campus to campus, calling out other workers to join them. Students are mobilising in support of the workers.
IOL News 30 April Durban - Durban residents are fighting back against trucks taking over their quiet suburban roads. The summit is being spearheaded by apolitical unions, with Zwelinzima Vavi as interim chairperson.
SABC News 22 April Consumer rights groups have written to the finance and trade ministries demanding action to curb bread price rises. Controversial family linked to Zuma leaves South Africa.
Description:For high-frequency traders, the place to be is foreign exchange. South Africa by high-frequency traders who make tens of billions of dollars jumping in front of investors. New York Attorney General Eric Schneiderman has opened a broad on whether their probes of high-frequency trading included foreign exchange.