PSzÁF fines CIB investment unit
The State Financial Supervisory Authority (PSzÁF) has fined CIB Bank Zrt's investment fund manager unit Ft 500,000 for failing to comply with fund management regulations, according to an announcement in the latest issue of capital markets gazette Magyar Tőkepiac published Thursday.
The PSzÁF also cited the fund manager unit of K&H Bank Nyrt, but it levied no fine in that case.
The watchdog said CIB Investment Fund Manager Zrt had been fined in relation to its activities managing the CIB Money Market Fund. The unit was instructed to comply with regulations in future.
The PSzÁF instructed K&H Securities Investment Fund Manager Zrt to comply with regulations on investment contracts and said it must upgrade its IT system to track investment limits.
ADVERTISEMENT
Voluntary Pension Fund Contributions Climb Nearly 7%
Poland Jobless Rate Unchanged in October
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.
