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Bank of Italy fined Monte Paschi manager in 2009 over transparency
January 29, 2013 / 7:12 PM / 5 years ago

Bank of Italy fined Monte Paschi manager in 2009 over transparency

ROME, Jan 29 (Reuters) - The Bank of Italy fined fomer Monte Paschi managing director Antonio Vigni 64,555 euros ($87,000) in 2009 over bank transparency violations, the central bank said on Tuesday.

The fine was imposed as regulators stepped up checks of the troubled Tuscan bank following its 9-billion- euro acquisition of rival Antonveneta in 2007.

The Bank of Italy has since begun proceedings to impose sanctions on the former management of Monte Paschi and has also passed information to prosecutors in Siena regarding a suspect derivative deal dating from July 2009. ($1 = 0.7420 euros) (Reporting By James Mackenzie)

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