Under scrutiny

Equity Derivatives

The Parmalat scandal may be starting to fade from memory, but Italy's capital markets have become mired in another controversy. Last year's failed hostile takeover bid by Banca Popolare Italiana (BPI) for the much larger Banca Antonveneta, the arrest in December of BPI's chief executive, Gianpiero Fioriani, amid allegations of market abuse, and the subsequent resignation of Antonio Fazio, the Bank of Italy's governor, have cast a dark pall over the Italian market. And, once again