January 25, 2013 / 12:36 PM / 5 years ago

Italy consumer group Codacons takes on Bank of Italy over Monte Paschi

MILAN, Jan 25 (Reuters) - Italian consumer association Codacons is taking legal action against the Bank of Italy over its supervision of the derivatives scandal at Banca Monte dei Paschi di Siena, a spokesman for the association told Reuters.

"We are going to file a legal complaint before the prosecutors in Siena today," the spokesman said on Friday.

"We believe that prosecutors must investigate the Bank of Italy's role in the situation at Monte dei Paschi," he said.

Codacons is also considering taking legal action in a civil court to protect the bank's shareholders from eventual damages in the case, the spokesman said.

Italian Prime Minister Mario Monti called on Friday for an immediate investigation of a widening scandal at Monte dei Paschi di Siena over the historic bank's losses of nearly $1 billion in a series of complex derivatives deals. (Reporting by Antonella Ciancio)

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