JOHANNESBURG, March 10 Sixteen banks accused of
colluding to rig South Africa's rand currency could face a
competition tribunal in July after a private pre-hearing was
held on Friday, a source at the competition commission said.
Barclays and Citigroup previously approached
South Africa's competition regulators with information linked to
the case and Citigroup was fined 69.5 million rand ($5.25
million) last month for its role.
Citigroup will face a separate hearing on March 22 when the
agreed fine is expected to be ratified as a final settlement,
although the tribunal could recommend changes, the source said.
The other banks named in the case were, Nomura,
Standard Bank, Investec, JP Morgan,
BNP Paribas, Credit Suisse Group, Commerzbank
AG, Standard New York Securities Inc, Macquarie Bank
, Bank of America Merrill Lynch (BAML), ANZ
Banking Group Ltd and Standard Chartered Plc.
($1 = 13.2275 rand)
(Reporting by Joe Brock; Editing by Elaine Hardcastle)