MNB fines investment fund manager Globeserv HUF 30 mln
The National Bank of Hungary (MNB) suspended the portfolio management activities of Globeserv Befektétesi Alapkezelő on charges of shortfalls, the central bank announced today, according to Hungarian news agency MTI.
The MNB instructed the company to comply with the rules governing regulatory capital, correct staffing shortfalls and prepare a recovery plan, MTI added.
The suspension will remain in place until Globeserv complies with the requirements, for a maximum of six months.
The companyʼs other activities are not affected by the restriction.
The MNB delegated an oversight commissioner to the company last November.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.