The Competition Tribunal’s hearing of banks accused of colluding in the foreign exchange market, which was scheduled to start on 24 January, has been delayed until further notice, says a BusinessLIVE report. The tribunal said in a statement yesterday that the Competition Commission had requested a postponement when it submitted a supplementary affidavit on 21 December, saying it intended to join new applicants.

Though the case has been postponed, the tribunal will hold a pre-hearing on 24 January to discuss new directions for the case. In February last year, the commission said its investigation into currency trading had uncovered evidence that 17 banks were involved in price fixing, and referred them to the tribunal for prosecution.

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