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MNB fines OTT-ONE for insider information violation

Listed IT company OTT-ONE on Thursday said it was fined HUF 5 million by the National Bank of Hungary (MNB) for violating rules on insider information, state news wire MTI reports.

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In a disclosure posted on the website of the Budapest Stock Exchange, OTT-ONE said the central bank and financial market watchdog had instructed it to comply with rules on insider information and instructed it to submit a record of information related to a capital raise decided on March 22, 2018, within five working days.

OTT-ONE said it would study the MNB resolution and decide whether to contest it in court.