February 20, 2017 / 2:47 PM / 6 months ago

BRIEF-SA's competition body reaches settlement with Citi over forex probe

Feb 20 (Reuters) - Competition Commission:

* Reaches settlement with Citibank N.A. For colluding

* Has filed with competition tribunal a settlement agreement reached with Citibank N.A. For being part of forex trading cartel

* Citibank N.A. will pay an administrative penalty of R69,500,860

* Citibank N.A. undertook to cooperate with commission and avail witnesses to assist prosecution of other banks that colluded in this matter Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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