# Non-profit organisation Public Interest SA is disappointed with the settlement between the Competition Commission and one of the banks implicated in the rand/US dollar exchange rate manipulation scheme from 2007 to 2013, Standard Chartered. While Standard Chartered admitted guilt and agreed to a 42.7-million-rand penalty, Public Interest SA deems the fine insufficient. The organisation calls for more robust consequences, including potential fines against executives, and emphasises the need for punitive damages.
Public Interest SA is disappointed with commission’s settlement with Standard Chartered