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PSzÁF financial mediator gets chief

Géza Nadrai has been appointed head of the Financial Arbitration Board (PBT), a body recently established to mediate between banks and their clients in contract matters.

Nadrai, who has worked at PSzÁF and its predecessor for more than ten years until 2006, was appointed by Károly Szász, chairman of financial market regulator PSzÁF. His mandate, effective February 1, is for six years.

The PBT was established to more effectively handle legal conflicts over contracts between financial institutions and their clients. It will start operating on July 1, 2011. (MTI-Econews)