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Public Interest SA is disappointed with commission’s settlement with Standard Chartered

# 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.