MNB fines bottled gas company KEG HUF 10 mln

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The National Bank of Hungary (MNB) fined bottled gas company Közép-Európai Gázterminál Nyrt., a company listed on the Budapest Stock Exchange, HUF 10 million on charges of repeatedly failing to comply with its regular and extraordinary reporting obligations, the central bank announced today according to Hungarian news agency MTI. 

After reviewing the company’s reporting in a targeted audit and finding that on several occasions the company failed to comply with relevant international accounting standards when preparing its financial reports and on one occasion publishing its interim management report after the deadline, the central bank determined a fine of HUF 10 mln for the company, MTI said.

The central bank also charges the company with repeatedly failing to meet the rules concerning reporting information related to voting rights, treasury shares and the size of registered capital, according to the announcement the central bank issued today.

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