The Hungarian Competition Authority accepts commitments from brokers in a cartel investigation (Budapest Stock Exchange)

In two orders of 20 March and 21 May 2008, the Hungarian Competition Authority (the “GVH”) ended its investigation into an alleged price coordination by brokers at the Budapest Stock Exchange (the “BÉT”). The first order ended the investigation, due to the lack of evidence, into an alleged fixing of commissions for transactions. The second order ended the investigation, after commitments by the BÉT, into an increase of entry fees seen as a potential barrier for newcomers. The BÉT Structure The BÉT is directed by the Board of Directors. The Board of Directors is assisted by a number of bodies, including the Trading Committee, which is made up of brokers and is their platform to voice their opinion to the Board of Directors. According to brokers, members of the Trading Committee usually

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  • Van Bael & Bellis (Brussels)

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Gábor Báthory, The Hungarian Competition Authority accepts commitments from brokers in a cartel investigation (Budapest Stock Exchange), 21 May 2008, e-Competitions Bulletin Commitment Decisions, Art. N° 20028

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