Whistleblower sparks Commerce Commission probe into forex

Sun, 06 Apr 2014

April 7 (BusinessDesk) - A Commerce Commission probe into the foreign exchange market was sparked by a whistleblower, the regulator said. The commission is investigating possible manipulation of currency rates and benchmarks in foreign exchange markets, and said in a statement today it “was commenced as a result of a leniency application under the commission’s cartel leniency policy.” The regulator can offer immunity from prosecution to the first member of a cartel who comes clean and provides evidence, as a means to stamp out anti-competi...

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