The Competition Commission says no one is prosecuting the manipulation of the Rand while some of these banks it is suing are getting fined left and right elsewhere.As it returned to the Commission Tribunal with new charge sheets this week, banks' lawyers said it's about time its case gets"euthanised".
But after the commission presented its case on the first day of the Competition Tribunal hearing, banks' lawyers were sure that they'd win this round again. They all agreed that the commission has failed to put together a triable case, with many saying that it has not built any case against their individual clients.
He also pointed to specific dates whereby the traders agreed to meet for drinks to discuss their spreads on the rand's spot price. Frances Hobden said the commission's legal team was even surprised that Katz had time for anything other than relaying the chats because he was"everywhere".
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