HALISTER1: Hungary’s Central Bank Fines Equilor Brokerage 70 Million Forint

Hungary’s Central Bank Fines Equilor Brokerage 70 Million Forint

(Bloomberg) -- National Bank of Hungary imposes fine on Budapest-based brokerage Equilor for violation of prudential and consumer protection rules, according to statement on financial regulator’s website.
  • Equilor didn’t abide by laws on separate handling of assets of brokerage and clients, didn’t meet all requirements on identifying clients with regard to laws against money laundering
  • Violations didn’t cause damage to clients, didn’t have impact on financial stability
  • Equilor received NBH ruling, examining its details and reasoning, brokerage says by e-mail, without commenting further
  • NOTE: Equilor was 4th largest brokerage in Hungary in January-May period on spot equity market, according to Budapest Stock Exchange data
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
335946Z HB (Budapest Stock Exchange)

To de-activate this alert, click here

UUID: 7947283