MNB bars 5Gulden companies from unlicensed activity
Image by Jessica Fejos
The National Bank of Hungary (MNB) today said it barred two companies, both called 5Gulden Corporation, from any activity requiring a permit from or registration with the central bank, Hungarian news agency MTI reported.
The central bank and financial market watchdog also launched a procedure against the companies, registered in Belize and the Seychelles.
The companies appear to have ties to New Zealand-based 3TG FX Financial, which has also come under scrutiny for operating in Hungary without a license, the MNB said.
ADVERTISEMENT
Wing Completes Hall in East Gate Pro Business Park
More Guest Nights y.o.y. for Year-end
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.
