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MNB bans Goldstein Brokers, Goldstein Equitas from unlicensed activities

The National Bank of Hungary (MNB), banned with immediate effect, Seychelles-based Goldstein Brokers and Panama-based Goldstein Equitas from operating without the necessary permits and failing to carry out reporting, the MNB said in a press release today.

Screen grab of the website of Goldstein Brokers.

The two companies are being investigated by the central bank, which acts as a market watchdog, to determine if the they have carried out investment and supplementary investment services that required either a permit from or reporting to the MNB, Hungarian news agency MTI reported.

The MNB moved on the basis of evidence gathered so far during these investigations, MTI reported, adding that the central bank noted that already existing repayment obligations of the companies towards clients are still valid and that it will publish the findings of its inquiry and the ensuing decision on its website.