The GVH, the MNB and the NFH have signed a cooperation agreement

The Hungarian Competition Authority (GVH), the National Bank of Hungary (MNB) and the National Consumer Protection Authority (NFH) have signed a cooperation agreement for the consistent enforcement of the law (Fttv.) on the prohibition of unfair commercial practices against consumers.

The three authorities has jurisdiction to inspect the commercial practices:

• The GVH proceeds in all matters affecting the merits of the competition, unless the offense is committed in just the label or in the operation and maintenance manuals,

• the MNB deals with matters relating to financial institutions, if they do not affect the substance of the competition,

• the NFH act in non-financial issues not affecting the competition.