MNB bans Goldstein Brokers, Goldstein Equitas from unlicensed activities
The National Bank of Hungary (MNB), banned with immediate effect, Seychelles-based Goldstein Brokers and Panama-based Goldstein Equitas from operating without the necessary permits and failing to carry out reporting, the MNB said in a press release today.
Screen grab of the website of Goldstein Brokers.
The two companies are being investigated by the central bank, which acts as a market watchdog, to determine if the they have carried out investment and supplementary investment services that required either a permit from or reporting to the MNB, Hungarian news agency MTI reported.
The MNB moved on the basis of evidence gathered so far during these investigations, MTI reported, adding that the central bank noted that already existing repayment obligations of the companies towards clients are still valid and that it will publish the findings of its inquiry and the ensuing decision on its website.
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.