PARIS Feb 15 Natixis has been placed
under formal investigation in France regarding statements the
company released at the start of the global subprime crisis in
2007, the bank said on Wednesday.
"Natixis announces that it has today been placed under
formal investigation in France, in the context of a magistrate
led investigation process opened in 2010 relating to two
announcements released in the second half of 2007, at the
start of the subprime crisis," the company said.
"Natixis considers that it provided to the public, in good
faith, the information available to it about its exposure, and
as and when any underlying risks were identified," it added.
In 2010, France's AMF financial market watchdog said it was
investigating Natixis to determine whether the French bank
concealed losses in late 2008 at the height of the financial
Natixis had to be rescued from a near-collapse during the
global financial crisis of 2007-2008 by its cooperative
retail-banking parent BPCE.
(Reporting by Sudip Kar-Gupta; Editing by Andrew Callus)