Standard Bank’s appeal on the Forex matter. Commission’s investigation record into platinum forex group investigation so-called Forex case. The case will be heard at the CAC in Cape Town on Wednesday and the Commission’s legal team will be led by Advocate Tembeka Ngcukaitobi.
Eighteen banks are accused of involvement in global price fixing and market division involving currency trading, including the South African rand in the Forex case. The Commission said exception hearings are set to be heard before the Tribunal in several weeks’ time. The banks still have to file answering affidavits, in response to the Commission’s founding affidavit. The case itself will get underway after pleadings and discovery. Standard Bank approached the Tribunal in September last year, in an effort to compel the Commission to hand over its investigation record. The bank brought the application in terms of Rule 15 of the Commission’s Rules of Procedure, which allows any person access to the record of the investigation.
But the Commission argued that the bank was a litigant in the matter and therefore not yet entitled to the document. The Commission said Standard Bank would have access to the document at the discovery, which takes place during the pre-trial period after the closing of pleadings. The Commission also argued that Rule 15 cannot be used by litigants to secure the Commission’s record of the investigation. In handing down its decision in November, the Tribunal said that the bank was not yet entitled to the record and that it would have access to the document in a reasonable time at the discovery. The Tribunal said a person could seek to obtain the record earlier if it provided a good reason for this. The bank did not do so.
Standard Bank said the positive momentum in the retail customer franchise in Africa regions continued. The use of bitcoin and other cryptocurrencies in all the country’s monetary and financial centres was banned,” the central bank said in a statement overnight. The banking group says its board still has unanimous confidence in Jes Staley. Data delayed by at least 15 minutes. President and CEO Christopher Terry and based out of New York in the US. In a rather spammy interview conducted by Denise A.
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