An Italian judge rejected a request by prosecutors to seize as much as €1.95 billion ($2.5 billion) in assets held by Nomura Holdings Inc. as they probe how Banca Monte dei Paschi di Siena SpA used derivatives to conceal losses.
The judge in Siena made the decision late Friday, prosecutor Nicola Marini told reporters at a court in the city. Marini said he didn't have details of the reasoning behind the ruling.
Italian prosecutors are probing claims that Nomura executives colluded with Monte Paschi's former managers to design one of two derivatives in 2008 and 2009 that hid as much as €557 million of losses at the Italian bank. Tokyo-based Nomura, which isn't under investigation, said last week it will "vigorously" contest any suggestion of wrongdoing.