Two investment management units of France-based Natixis were fined a combined €3 million by the country's financial watchdog over failures related to how they conducted securities lending and repurchase deals, Financial News reported Sept. 30.
Autorité des Marchés Financiers imposed a €2 million levy on Natixis Investment Managers International SA over violations related to information provided to investors and its handling of conflicts of interest.
The other unit, Natixis Asset Management Finance SA, was fined €1 million for not conducting itself with honesty, loyalty and professionalism in the interests of its investors while it served as an intermediary in the transactions, the report said.
