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Watchdog barks at grain trader

The State Financial Institutions Supervision (PSzÁF) imposed a Ft 1.5 million fine on Hungarograin Rt, a registered trader at the Budapest Commodity Exchange (BÁT). The financial authority warned the brokerage to comply with regulations pertaining to the security of client claims, client accounts, cash flow restrictions and brokerage fees. In addition to violating these rules, Hungarograin also failed to report to the financial watchdog as required.