From the start of February, investors can anonymously request the information that their investment service providers must supply the central bank, said László Windisch.
The MNB announced the measure last October, saying the change “could strengthen client confidence in the financial sector” following the failure of three independent brokerages earlier in the year due to fraud.
Had the new system of checks been in place earlier, the brokerage scandal could have been avoided, Windisch said.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
