CCSA - Constitutional Court of South Africa

South Africa Court Upholds Forex Collusion Case Against BNP Paribas The Constitutional Court of South Africa ruled on appeals involving BNP Paribas, Credit Suisse Securities (USA) LLC, and others against the Competition Commission regarding alleged collusion to manipulate the USD/ZAR exchange rate from 2007 to 2013. The Court upheld the Competition Tribunal's decision against BNP Paribas and others, allowing the case to proceed against them, while dismissing Credit Suisse's joinder. The Commission's appeal succeeded against JPMorgan Chase Bank and Standard Americas Incorporated but failed against several others, including Bank of America Europe. The Court emphasized the need for finality in jurisdictional interpretations.