meta_id 3321585

On July 10, 2026, the Hungarian National Bank (MNB) issued enforcement decision H-STA-I-26/2026 against SNAPA-ADVISORY Kft., an independent intermediary, for failure to comply with statutory reporting obligations. The MNB identified non-compliance during its continuous oversight of legally mandated data submissions. SNAPA-ADVISORY Kft. failed to submit annual supervisory reports required under MNB Regulation 55/2024 (December 3, 2024) for the 2025 reporting period. These reports are mandatory for the MNB to fulfil its money and credit market supervision responsibilities. The regulation specifies reporting requirements in Annex 8 of the summary table, rows 9 and 10, which require annual frequency submissions along with accompanying schedules and appendices. The MNB decision requires SNAPA-ADVISORY Kft. to submit the outstanding annual supervisory reports within five working days from the date the decision becomes final, in the format, content, and manner specified by MNB Regulation 55/2024 (December 3, 2024). The MNB also issued a formal notice requiring the intermediary to fully comply with all future data reporting obligations mandated by law or MNB authority decisions and to demonstrate lawful conduct. The MNB warned that failure to meet the submission deadline or repeated violations of applicable laws and MNB decisions may result in further enforcement action, including fines ranging from HUF 100,000 to HUF 2 billion, or 200 percent of the intermediary's annual supervisory fee (base fee plus variable fee), whichever is higher. The MNB may also revoke SNAPA-ADVISORY Kft.'s operating licence under the Act on Credit Institutions and Financial Enterprises (2013. évi CCXXXVII. törvény).