An Italian investors' association is calling for Chase Manhattan to be fined and be banned from operating on the Italian Stock Exchange in the wake of its cancellation of the IPO for Sitcom, the digital TV producer.

Adusbef, an association representing the interests of Italian private investors, has sent a letter to Consob, the Italian exchange regulator, demanding that Chase be fined for its part in the Sitcom IPO affair and - along with merger partner JP Morgan - be prevented from operating on the Italian market.