Commission requests leave to appeal CAC judgment in case against banks alleged to have colluded in the rand/dollar currency pair

"On 06/02/2024, the Competition Commission issued an update regarding Commission requests leave to appeal CAC judgment in case against banks alleged to have colluded in the rand/dollar currency pair. The Commission is appealing the CAC order to the Constitutional Court against 13 respondent banks, seeking to clarify whether South African competition authorities have jurisdiction to investigate and prosecute firms outside of the Republic whose anti-competitive conduct affects the local economy."