The interview came after it was revealed that Bud-Cash brokerage may have caused as much as HUF 100 bln to its clients due to alleged mismanagement. Beva pays compensation of up to €20,000 or approximately HUF 6 bln per client.
The payments can only occur once the liquidation of the investment company in question had begun, Farkas said. The last time Beva was required to pay damages was in 2010, in the amount of HUF 30 mln. The fund paid a combined HUF 4.5 bln in 13 cases to more than 10,000 clients between 1998 and 2002.
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