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Rogán: Beva threshold could be raised from €20,000 to €100,000

Tourism

Hungary’s ruling Fidesz MPs will propose a bill that would raise the insured threshold of the Investor Protection Fund (Beva) from €20,000 to €100,000 by this evening, caucus leader Antal Rogán said late yesterday on state-owned M1 television according to online daily origo.hu. 

According to Rogán, the bill would affect approximately 32,000 people, out of whom “only 73” had more than the utmost threshold of €100,000 invested. The caucus leader noted that the rule would apply to investors hit by the recent scandal at Quaestor as well, adding that compensation should be paid for all bonds, sanctioned or not.

According to Origo, Rogán said that all investors in the investor market should contribute to the fund in order to help clients be compensated as soon as possible. The caucus leader said that these players would be refunded all their money once Quaestor is liquidated.

Rogán said that the bill could be approved as early as next week and compensation could be paid by the end of July. Rogán noted that "almost everyone" who was hurt by the earlier Buda-Cash brokerage scandal has received compensation.

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