Which authority is recorded against Banca Monte dei Paschi di Siena S.p.A.?

The entry is recorded against Tribunal of Milan / Court of Appeal, in the Italy jurisdiction, under the theme Derivatives accounting · false accounting.

What is the current status of this entry?

Status: Convictions overturned on appeal. Last recorded change: 6 May 2022. The matter arose or was first recorded on 8 November 2019.

How was this matter brought to light?

Criminal prosecution. Each statement in the entry reflects material already published by a named source; nothing beyond those sources is asserted or inferred.

Where can the primary sources for IT-2019-01 be checked?

The entry links to Reuters — Milan verdict, 8 November 2019; Reuters — appeal acquittal, 6 May 2022.

IT-2019-01 · Italy · 2019

Milan convictions over Monte dei Paschi derivatives are overturned on appeal

A Milan court convicted former officers of the Italian bank and of two counterparty banks over the accounting for derivative transactions; the Court of Appeal later overturned those convictions.

Italian bank palazzo at night, illustrating the Monte dei Paschi proceedings — Illustrative image · Banca Monte dei Paschi di Siena S.p.A.

Institution: Banca Monte dei Paschi di Siena S.p.A.
Authority: Tribunal of Milan / Court of Appeal
Status: Convictions overturned on appeal
Theme: Derivatives accounting · false accounting
Raised by: Criminal prosecution
Jurisdiction: Italy
Matter arose: 8 November 2019
Last recorded: 6 May 2022

What the sources record

The first-instance judgment was handed down on 8 November 2019.

On 6 May 2022 the Milan Court of Appeal acquitted the defendants, and the register records that outcome.

The transactions concerned the treatment of structured trades entered into in 2008 and 2009.

Timeline

2019-11-08
First-instance convictions in Milan.
2022-05-06
Court of Appeal overturns the convictions.

Primary sources

Questions and answers on this entry

What does register entry IT-2019-01 record?: Milan convictions over Monte dei Paschi derivatives are overturned on appeal. A Milan court convicted former officers of the Italian bank and of two counterparty banks over the accounting for derivative transactions; the Court of Appeal later overturned those convictions.
Which authority is recorded against Banca Monte dei Paschi di Siena S.p.A.?: The entry is recorded against Tribunal of Milan / Court of Appeal, in the Italy jurisdiction, under the theme Derivatives accounting · false accounting.
What is the current status of this entry?: Status: Convictions overturned on appeal. Last recorded change: 6 May 2022. The matter arose or was first recorded on 8 November 2019.
How was this matter brought to light?: Criminal prosecution. Each statement in the entry reflects material already published by a named source; nothing beyond those sources is asserted or inferred.
Where can the primary sources for IT-2019-01 be checked?: The entry links to Reuters — Milan verdict, 8 November 2019; Reuters — appeal acquittal, 6 May 2022.

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