Salary forex trader - Standard Bank may have to pay R51bn fine over forex

South Africa Average Monthly Gross Wage - actual data, historical chart and calendar of releases - was last updated salary forex trader October of South Africa Jobless Rate Rises to South Africa Inflation Rate Eases to 4.

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Banks implicated in fixing the rand price are unlikely to be hit with heavy penalties, say analysts. The Competition Commission on Wednesday recommended that the Competition Tribunal forexx 15 local and foreign-owned banks operating in South Africa for price-fixing.

Standard Bank could be fined tens of billions of rands if it forex trader salary found that its traders colluded in fixing the prices at which they bought and sold rands.

The Times has calculated that, with about Rbn in income from banking salary forex trader between andthe bank would have to pay R51bn in fines. But the implicated banks would have to pay much less if the fine were calculated on the turnover of their currency fored, said Intellidex analyst Stuart Theobald.

The commission investigated Standard, Investec and Salary forex trader but has exempted Absa from penalties because it co-operated in the investigation. In parliament yesterday, President Jacob Zuma said the banks had a case to answer at the tribunal.

The government is stepping up its assault on the country's four salary forex trader lenders. The ANC is determined to break their dominance of the sector and force them to lend more to blacks on less stringent terms.

The banks incurred Zuma's ire when they closed the accounts of companies tied to the Gupta family, which is accused of using its forex trader salary relationship with Zuma to influence government appointments and the awarding salry salary forex trader contracts.

It makes a case for intervention. Theobald said that, if there salafy a possibility of a massive fine, the banks' share prices would be plummeting. Lawyers said that the Competition Act gave the authorities jurisdiction over activities binary option robot pro version took place, or had an economic effect, in South Africa.

Mitch Morrison, a salay of Fullard Meyer Morrison, said this meant some banks might be salary forex trader to "blow off" regulators because they are not physically present in South Africa. Wits University trader salary forex professor of competition law Kasturi Moodaliyar said that, if the banks' conduct had an economic effect in South Africa, the competition authorities would have jurisdiction.

But that would be hard to prove. Just One Lap trader Simon Brown said that, if traders had colluded to raise forrx lower the price at which the rand salary forex trader sold, it would not have had a long-term effect on the rand's value. This is how banks make their money in forex.

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