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PSzÁF exceeds 2009 revenue target by nearly 5%

Hungary's financial market regulator PSzÁF generated revenue of HUF 11.4 billion in 2009, compared to targeted revenue of HUF 10.87 billion, the business daily Napi Gazdaság reported on Tuesday.

PSzÁF attributed the surplus to HUF 7.4 billion in revenue from fees paid by the money-market sector, compared to the expected HUF 6.99 billion. Revenue from fines was HUF 775.6m, well above the expected HUF 200m. Most of the jump came from a large HUF 489m fine levied on Soros Fund Management for influencing the price of OTP, the daily reported noting that the fund was disputing the fine at court.

The regulator's expenditures fell 8.9% in 2009 to HUF 8.7 billion. (MTI-ECONEWS)