March 2, 2017 / 12:04 PM / 3 years ago

South Africa's Standard Bank puzzled by accusations in FX probe: CEO

South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg January 17, 2013. . REUTERS/Siphiwe Sibeko

JOHANNESBURG (Reuters) - South Africa’s Standard Bank is still in talks with anti-trust authorities over allegations by the Competition Commission that it was involved in the rigging of rand currency trading, its chief executive said on Thursday.

Referring to the complaint by the commmission, Chief Executive Sim Tshabalala said: “... we are unable to determine from that precisely what the infraction we are accused of is,” adding that the bank was engaging with the commission and its oversight body, the Competition Tribunal, to clarify the issue.

Reporting by TJ Strydom; Editing by James Macharia

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