Hungary to tighten financial controls after brokerage collapses

April 9, 2015 11:34 AM

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BUDAPEST, April 9 (Reuters) - Hungary's government has approved draft legislation to tighten financial sector controls after a string of brokerage collapses, Economy Minister Mihaly Varga said on Thursday.

Investor Protection Fund BEVA may have to pay compensation of 80 to 100 billion forints ($300-$400 million) to investors for damages related to the collapse of three brokerages in the past two months, a central banker has said.

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