Standard Chartered admits to rand manipulation

[BusinessTech]

Standard Chartered admits to rand manipulation

Standard Chartered Bank and the New York State Department of Financial Services have reached an agreement after the bank pleaded guilty to currency manipulation.

 

[Toxic T]

I read about this yesterday. So if I am correct, they manipulated the Rand value negatively and all they had to do was admit to it and pay a small fine.

What about all the people that were impacted, we import most of our stuff into South Africa, cant we join a class action and sue them?

 

[ekske1]

I read about this yesterday. So if I am correct, they manipulated the Rand value negatively and all they had to do was admit to it and pay a small fine.

What about all the people that were impacted, we import most of our stuff into South Africa, cant we join a class action and sue them?

Nothing. Gravy tax has been collected, continue as before.

 

[Jet-Fighter7700]

I read about this yesterday. So if I am correct, they manipulated the Rand value negatively and all they had to do was admit to it and pay a small fine.

What about all the people that were impacted, we import most of our stuff into South Africa, cant we join a class action and sue them?

big mega corporate that got the government nuts in a vice grip, can do whatever they like. with zero consequences
one of the reasons they so threatened by cryptocurrency,

as at least with that no way to buy influence, unless you have millions to spend on cryptocurrency mining equipment.