5Gulden companies receive HUF 196 mln fine
The National Bank of Hungary (MNB) fined two companies, both called 5Gulden Corporation, a combined HUF 196 million on charges of providing investment services without a licence, the central bank announced today, according to Hungarian news agency MTI.
A procedure against the two companies, registered in Belize and the Seychelles, respectively, in November, MTI noted.
The central bank said that the activities of the companies affected a “large number of investors” and a “significant” amount of assets. MNB said it considered these as aggravating factors, according to MTI.
The central bank will notify foreign oversight authorities of the activities of the companies, too.
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