MNB launches market inquiry into Interactive Ltd.

Analysis

Image by Jessica Fejos

The National Bank of Hungary (MNB) said today that it had launched a market inquiry at Bulgarian-owned Interactive Ltd. and ordered the company to refrain from any activity requiring the MNBʼs authorization or notification, Hungarian news agency MTI reported.

The MNB is examining whether Interactive has conducted investment services and supplementary investment services without a license from the central bank, MTI said.

The MNB has frozen the known bank accounts of Interactive to protect new investors, but this does not extend to the existing repayment obligations of the company towards its clients, according to MTI.

The central bank will publish the findings of its inquiry and the decision it has reached on its website in the near future.

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