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PSzÁF fines ING

The State Financial Institutions Supervision (PSzÁF) fined ING National Pension Fund Ft 1 million for misleading readers with a newspaper ad. The ad was published in daily Népszabadság on March 5, 2005. The text could mislead readers, because it didn?t detail statements and definitions were inaccurate. PSzÁF has now obliged ING to inform readers about the legal violation in the same paper and refrain from publishing the ad in the future.