Italy's market regulator fines Monte Paschi fined over 2012 disclosure
MILAN Oct 15 (Reuters) - Italy's market watchdog fined scandal-hit Monte dei Paschi di Siena 300,000 euros ($405,100) for belatedly providing incomplete information to the regulator in 2012, when the lender's new management was already in place, Consob said on Tuesday.
In a statement Consob accused the Tuscan lender, which is at the centre of an investigation over its costly acquisition of a smaller rival in 2008 and loss-making derivatives trades its former management made in the deal's aftermath, of "grave negligence".
Consob said it had requested to know, among other things, who were the subscribers of a hybrid instrument known as Fresh 2008.
It said the bank had "delayed without justification" its answer to the request, and had provided an incomplete reply in April and July 2012.
Consob also fined the bank's top shareholder, the Monte dei Paschi foundation, 200,000 euros.
($1 = 0.7406 euros) (Reporting by Silvia Aloisi)
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