Bloomberg News

Natixis, Employees Fined 355,000 Euros by French Watchdog

October 13, 2011

(Updates with Natixis comment in third paragraph.)

Oct. 13 (Bloomberg) -- Natixis SA, BPCE SA’s investment banking unit, and three employees were fined a total of 355,000 euros ($487,300) by France’s financial markets regulator for violations at the now-shuttered Natixis Securities brokerage unit.

Natixis was fined 250,000 euros and the employees were each fined 35,000 euros, the Autorite des Marches Financiers said today in a decision posted on its website.

The fine concerns “isolated and old” actions, said Victoria Eideliman, a spokeswoman for Natixis. “We are studying the decision and reserve the right to appeal.”

--Editor: Peter Chapman

To contact the reporter on this story: Heather Smith in Paris at hsmith26@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net.


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