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Hungarian financial market regulator PSzÁF on Wednesday said it revoked Star Finance Financial Consultancy's license for independent insurance broker activities.
PSzÁF found in an on-site investigation that Star Finance had illegally brokered investment services, noting business and ownership connections with Fund De La Salle, an investment fund manager under liquidation.
PSzÁF said it fined Fund De La Salle's former CEO Richárd Kupecz HUF 5 million and the company's portfolio manager Kristóf Molnár HUF 1 million in the matter. (MTI-ECONEWS)