MOL Was Punished because It Did Not Provide Information About the Shutdown of the Barátság Oil Pipeline for Weeks, but the MNB Did Not Investigate Whether Insider Trading Occurred
8 Articles
8 Articles
Even before the change of government, in February, the Hungarian National Bank initiated proceedings against MOL on suspicion of insider trading. Four months later, the MNB published the results of its investigation, based on which MOL got away with it very cheaply. The background to the case is that the president of the Stock Exchange Individual Investors' Interest Protection Association (TEBÉSZ) filed a public interest report with the central …
The Hungarian National Bank has imposed a heavy fine on Mol after the company, according to the central bank, delayed informing investors about a significant oil supply problem. The company must pay 43 million forints for violating the extraordinary information obligation.
The central bank imposed a supervisory fine of HUF 43 million on Mol Plc. for violating the extraordinary information obligation.
According to the Hungarian National Bank, the listed issuer should have publicly communicated to investors about the permanent shutdown of the Barátság oil pipeline and the preparation of measures to replace oil imports by February 12 of this year at the latest, but it did so only days later.
They knew there was a problem with the wiring, but they didn't inform us about it.
In addition to the market surveillance fine, the company was also warned to comply with the law on extraordinary disclosure obligations. However, in the case of insider trading.
Coverage Details
Bias Distribution
- 100% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
