'Incorrect' Mps info reported to prosecutors
'Nature of Nomura transaction not disclosed in 2012'23 August, 19:09
The losses are also tied to a money-losing contract drawn up by the Siena-based bank's previous management. Japanese investment bank Nomura was involved in the transaction.
"The real nature of the Nomura transaction was not disclosed on July 6 and on October 1 when specific requests for information were made," Consob wrote in a report to Siena prosecutors in which it highlighted issues it has with answers the bank's current management gave it since they have been at the helm of the lender. Chairman Alessandro Profumo and CEO Fabrizio Viola currently manage the bank. Earlier on Friday consumer association Codacons said it had filed a report to Consob in February against MPS's current management, saying it had provided "incorrect or only partially complete"information about the financing of its Banca Antonveneta acquisition, as well as the state-debt transaction the lender executed with Nomura.