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Scandals fraud and losses in the financial markets

Scandals fraud and losses in the financial markets

HSBC is the latest bank to be hit by attempted fraud, which Euromoney was first to report.

Abigail Hofman

Abigail Hofman

We’re here to save the world and we don’t need any questions

Wednesday, May 7, 2008

Regulator okays establishment of new bank, SPE Bank.





Regulator okays establishment of new bank, SPE Bank. The financial market regulator PSZAF okays the establishment of a new bank, SPE Bank, to be wholly owned by Cayman Islands-registered SPCP Hungarian Holdings. The new financial institution will have HUF 2bn issued capital. It has six months to submit application for operating license.  There were 33 banks operating on the domestic market at end-2007 with total subscribed capital of 422.5bn.


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