SA-born trader gets probation and $1m fine for manipulating exchange rate
The sentence was influenced by the judge’s view that Morgan Stanley was familiar with the risks of the unregulated foreign exchange spot market.
Dollar
Videos
Watch: FPI Financial Planner of the Year on key issues shaping the financial landscape
Animated video explains the two-pot retirement system
NCA Credit providers’ FICA obligations
NCR Desktop Audits
Is South Africa on track to getting off the grey list?
Looking back at this year’s FPI Professional’s Convention
Enhance your HR skills by attending our insightful webinars in November
Webinars on how to investigate misconduct and address poor performance
Ex-fund manager found guilty of fraud for manipulating dollar/rand exchange rate
The prosecution’s case is that SA-born Neil Phillips engaged in a flurry of trades in the early hours of 26 December 2017 to force the rand below 12.50 to the dollar.
Why I’ve turned positive on the rand
Most of the bad news seems to be reflected in current market prices.
US charges hedge fund’s CIO with manipulating dollar/rand exchange rate to trigger $20m payment
The United States Attorney’s Office in New York has charged the co-founder and chief investment officer of a UK-based hedge fund with manipulating the US dollar/rand exchange rate to trigger a $20 million […]
Regional – Southern Africa – Rand weakness here to stay
The South African rand has nose-dived past the R11/$ mark at a time when newswires are suggesting that a sell off in emerging market assets has only just begun. The rand earned the […]
