Reuters: Regulatory News: Italian prosecutors seek JPMorgan indictment for Paschi-Antonveneta deal -report

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Italian prosecutors seek JPMorgan indictment for Paschi-Antonveneta deal -report Oct 2nd 2013, 23:40 Wed Oct 2, 2013 7:40pm EDT Oct 2 (Reuters) - Siena prosecutors requested that JPMorgan Chase & Co stand trial for obstructing regulators as part of a wider probe into Banca Monte dei Paschi di Siena SpA's purchase of Banca Antonveneta SpA, Bloomberg reported citing people familiar with the matter. According to the Bloomberg report, prosecutors allege JPMorgan withheld information from Italian regulators about a 1 billion euro ($1.36 billion) financing the New York-based bank arranged for Monte Paschi's takeover of Antonveneta in 2008. JPMorgan failed to oversee employees properly, according to the indictment request, Bloomberg reported citing sources. Prosecutors also are seeking indictments against former Monte Paschi managers for obstructing regulators, market manipulation and falsifying filings, Bloomberg reported, citing people familiar with the matter. JPMorgan could not be immediately reached for comments.

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