MNB forbids New-Zealand companies from conducting unlicensed activities

Analysis

Jessica Fejos

The National Bank of Hungary (MNB) forbid New Zealand-based companies 3TG FX Financial Limited Partnership and Perfecto FX Capital Management Limited from performing unlicensed activities, effective immediately, in the absence of necessary permits and reporting, the MNB said today, according to Hungarian news agency MTI.

The MNB is investigating the two companies in its capacity as market watchdog to establish whether these companies have carried out investment and auxiliary services that required either a permit from or reporting to the MNB. The MNB acted on the basis of evidence it had gathered during its investigations.

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