Banks Face Scrutiny in First Rand-Rigging Probe Since 2002
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South African regulators are investigating alleged foreign-currency market rigging for the first time in 13 years in a probe that will examine practices at banks including JPMorgan Chase & Co. and Citigroup Inc.
The Competition Commission suspects 11 companies of using electronic messaging software to coordinate deals when quoting prices to customers, it said in a statement Tuesday.