PRETORIA - The Competition Tribunal has denied Standard Bank's request to access the record of the Competition Commission's investigation in the so-called forex case.
Eighteen banks have been accused of manipulating the rand/dollar exchange rate.
The tribunal still has to hear objections from 14 of the banks which is set down for several days in January.
The Competition Tribunal has denied Standard Bank’s request because it’s not yet entitled to the record.
Considering the length of the record and the extent of confidential information contained in it, the tribunal found it would place a burden on the commission to provide it.
It's ruled that the reasonable time to provide the record will be when all the evidence is disclosed to the respondent banks before the forex case is heard.
Disclosure of the record usually takes place after the respondents have filed a response to the allegations and the commission has had an opportunity to reply.
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