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Co-operation in examination of financial market complaints

The Civil Rights Ombudsman, the Hungarian Competition Authority (Gazdasági Versenyhivatal, hereinafter: GVH) and the Hungarian Financial Supervisory Authority (HFSA) concluded a co-operation agreement in order to effectively examine the complaints relating to the financial market. The document was signed by the Ombudsman Dr Barnabás Lenkovics, Dr Zoltán Nagy, President of the GVH and István Farkas, Chairman of the Supervisory Board at HFSA.

According to the agreement, the parties will forward to each other all complaints, which observably or likely fall within the competence of one of the other institutions. Depending on the nature of the proceeding, even when the Ombudsman has forwarded the case, he may request information from the GVH or from the HFSA. The latter authorities are also obliged to inform the Ombudsman, if the case goes beyond their competence or an abuse concerning constitutional rights is suspected. When it is necessary, these institutions may make suggestions to the legislator about the remedying of an abuse for the future.

The Civil Rights Ombudsman
Hungarian Competition Authority
Hungarian Financial Supervisory Authority

Budapest, 8 March 2007

Hungarian Competition Authority
Communication Group

Further information:
András Mihálovits
Hungarian Competition Authority
Address: 1054 Budapest, V. ker., Alkotmány u.5.
Mailing address: 1245 Budapest 5. POB 1036
Tel.: +36-30 618-6618