JOHANNESBURG, March 10 (Reuters) - Sixteen banks accused of colluding to rig South Africa's rand currency could face a competition tribunal in July after a private pre-hearing was held on Friday, a source at the competition commission said.
Barclays BARC.L and Citigroup (NYSE:C) C.N previously approached South Africa's competition regulators with information linked to the case and Citigroup was fined 69.5 million rand ($5.25 million) last month for its role. will face a separate hearing on March 22 when the agreed fine is expected to be ratified as a final settlement, although the tribunal could recommend changes, the source said.
The other banks named in the case were, Nomura 8604.T , Standard Bank SBKJ.J , Investec INLJ.J , JP Morgan JPM.N , BNP Paribas BNPP.PA , Credit Suisse Group CSGN.S , Commerzbank AG CBKG.DE , Standard New York Securities Inc, Macquarie Bank MQG.AX , Bank of America Merrill Lynch (NYSE:BAC) (BAML) BAC.N , ANZ Banking Group Ltd ANZ.AX and Standard Chartered Plc STAN.L . ($1 = 13.2275 rand)