The Hungarian Financial Supervisory Authority Established 90 Years Ago

Abstract

The Hungarian Financial Supervisory Authority (HFSA), Hungary’s financial market watchdog, was established in early 2000 that placed the crown on a centuries-long development process. The evolvement of today’s supervisor of financial institutions was the outcome of efforts by over a thousand members of our profession who took the matter systematically forward, building it “on the back of generations.” Thus, we at HFSA feel that a community, which does not respect its past, does not deserve the present, and is certainly unable to find its future. This is the reason why each autumn we take advantage of the Prudentia Prize to publicly honor our colleagues who devoted decades to promoting the advance of the Hungarian system that supervises financial institutions. This modest remembrance is a way of respectfully bowing before all the financial professionals, both the well known and the undeservedly forgotten members of the community, who helped in any way to establish the current supervisory system.