Hungarian financial market regulator PSzÁF said on Thursday it found serious breaches of regulations at Dimenzió Health Fund and ordered its shareholders to relieve the company's management of their duties.
PSzÁF instructed Dimenzió shareholders to hold a general meeting by October 31 to take decisions on relieving members of the board as well as the managing director.
PSzÁF fined Dimenzió HUF 5 million and its managing director HUF 2 million for the offenses discovered in an investigation.
Dimenzió must submit a plan on its future activities, including the management of operating losses, to PSzÁF by December 15. It must stop unlicensed business activities by December 15. It may make payments from its operating reserves only related to its core business. (MTI-Econews)