Italy court accepts Monte dei Paschi settlement request: source
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
A logo of Monte dei Paschi di Siena bank is seen on the ground in Siena, Italy, November 5, 2014. REUTERS/Giampiero Sposito/File Photo
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
MILAN (Reuters) - An Italian court accepted a request from Banca Monte dei Paschi di Siena
The settlement with Monte dei Paschi involves the seizure of 10 million euros and a fine of 600,000 euros, the source said.
In October some former managers at Monte dei Paschi were among several people ordered to stand trial for a series of financial crimes. [nL8N1C70A5]
Under Italian law a company can be held responsible if it is deemed that it failed to prevent, or attempt to prevent, a crime by an employee that benefited the company.
(Reporting by Manuela d'Alessandro, writing by Stephen Jewkes, editing Luca Trogni)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- South Korea central bank: market impact of impeachment vote seems limited
- Drone strike kills militant linked to Charlie Hebdo attack: U.S.
- Credit Suisse lowers hurdle to redeem delisted oil ETNs
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!