Budapest Stock Exchange sees authority broadened by Parliament

Sights

Image courtesy of Budapest Stock Exchange (BÉT)

The Hungarian Parliament yesterday voted to approve modifications to laws regulating the financial intermediary system, as well as broadening the authority of the Budapest Stock Exchange (BSE), according to reports. The BSE welcomed the changes in a statement issued after the vote.

The broadened authority granted the BSE entitles the institution to provide professional advisory services to companies wishing to list on the stock market, offering them more information and easing the process, Hungarian news agency MTI reported. Under the approved modification, the stock exchange is now entitled to operate platforms that support fund-raising from capital markets. 

The new modifications also grant the BSE the right to block the listing or suspend the trading in shares of companies if they do not have a good track record. Companies listed on the stock exchange are no longer obliged to compile an interim management report, MTI added.

Issuing a statement after the vote, the Budapest Stock Exchange yesterday welcomed the changes, saying that they are in line with its strategy of developing the Hungarian stock market.

The National Bank of Hungary MNB officially announced the takeover of the BSE in November when it acquired majority ownership in the institution.

Central bank deputy-governor Márton Nagy was appointed chairman of the BSE and the MNB pledged to prepare plans for developing the Budapest bourse soon after the takeover.

ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

Budapest leaders make public transport free for under-14s City

Budapest leaders make public transport free for under-14s

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.