Working group to address capital-market abuses
The National Bank of Hungary (MNB), the Interior Ministry, the Chief Prosecutor, the National Police Headquarters and the National Tax and Customs Authority (NAV) want to establish a joint working group to better crack down on abuses on money and capital markets...
The decision to establish the working group was taken as the result of a conference held on Thursday, the MNB said.
“Coordinating the work of organizations participating in the working group could significantly increase the efficiency of action taken to uncover and crack down on illegal activities and to fight market capital market abuse,” the MNB said.
The working group will coordinate professional consultations between its participants as well as operative measures linked to specific cases, it added.
The announcement came two days after the MNB fined eleven banks a combined HUF 9.5 billion for cartel activity during an early payback scheme for borrowers with forex-based loans that ran from late 2011 to early 2012.
ADVERTISEMENT
Number of Liquidations Increasing Rapidly
Varga Meets With Chinese Business Leaders
AutoWallis May Increase Planned Sales Due to Strong Performa...
Around 2,800 Events Take Place in European Capital of Cultur...
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.
