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On 2 November 2026, the National Bank of Hungary (MNB) relaunched the market supervision and capital markets section of its website (piacfelugyelet.mnb.hu). The portal is no longer focused primarily on the authority's activities but serves as an information platform for investors. It also enables users to report suspected unauthorised providers and capital market abuse online, including anonymously.
What happened
The redesigned portal brings together the following key tools and information:
· Authorisation check: The "Search for Market Participants" function shows whether a provider holds a supervisory licence to provide financial or investment services.
· Warnings: The MNB publishes warnings about entities and individuals operating without the required licence or registration, often while its investigation is still ongoing. The list currently contains close to 200 names. The portal also lists unauthorised providers notified to the MNB by foreign central banks and supervisory authorities.
· Online reporting: In addition to the existing e-mail and telephone channels, users can now submit reports through an online form, with the option to remain anonymous. Reports may concern:
o activities carried out without the required licence or notification; and
o suspected capital market abuse by any person, including licensed providers and individuals in possession of inside information.
· Capital markets content: Guidance on trading on and off exchanges, as well as access to issuers' official disclosures, alongside educational material on investment products, investor protection and typical warning signs. Such warning signs include persistently high returns, guaranteed capital or returns, and opportunities that look exceptional compared with normal market investments.
Who is affected
· Licensed financial and investment service providers: Increased visibility of reports and supervisory enquiries, including on suspected market abuse.
· Issuers and other capital market participants: A new channel for reporting suspected market abuse, and issuers' official disclosures now available on the portal.
· Investors: A single point of access for authorisation checks, warnings and reporting.
Why it matters
The portal is part of a broader enforcement toolkit against unauthorised providers. In addition to publishing warnings, the MNB can prohibit the continuation of the activity, file a criminal complaint, have websites blocked and freeze remaining client funds to protect them.
For licensed providers, a more accessible reporting channel may result in an increase in supervisory enquiries, including those relating to suspected market abuse. As warnings may be published before an investigation is closed, providers should ensure that their authorisation status is accurately reflected on the portal. Investors should use the authorisation check and warning list as a first step, while bearing in mind that these do not replace their own due diligence.
Author: Vivien Veres
Vivien
Veres
Associate
hungary