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7th August, 2018

MNB bans unlicensed financial firm

The MNB banned Prague-based Perfectum Consulting from collecting deposits and carrying out other financial services with immediate effect until an ongoing procedure is closed, it was announced on Monday.

The company, also acting under the names Investment GP and Global Property (GP) Capital SE, promised unrealistically high yields and guarantees on principal.

The MNB has begun an investigation to ascertain whether Perfectum collects deposits or other financial assets on a business basis, something that requires a permit from the MNB.

The company had been fined Ft 50 million for carrying out the same activities without a license in 2012.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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