A Natixis SA unit was fined 35 million euros ($41 million), the highest-ever fine from France’s markets regulator, in a case over accusations that the bank charged unjustified fees and excessive margins to clients such as Credit Suisse Group AG.
Natixis Asset Management failed to properly oversee some structured funds, known as formula funds, between 2012 and 2015, according to the Autorite des Marches Financiers’ enforcement committee.
Natixis plans to appeal the AMF’s “disproportionate and unjustified” decision, Matthieu Duncan, the chief executive officer of the asset management unit, said in a phone interview, underlining that “no damage was done to ...
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