Name
Global FinTech Guide
Country Name
Hungary
SectionTitle
RegTech and compliance management
Body
RegTech is composed of the words “regulatory” and “technology”. It is a collective term for the application of modern technologies, to get the increasing regulation in the banking- and financial sector under control both from an IT and a legal standpoint.

Introduction

Attitude of the country towards RegTech-services

The social and political climate towards RegTech-services is neutral.

Legal affairs  

Obligations and requirements to provide RegTech-services

The rules for outsourcing shall apply.

Additional comments regarding the legal situation for RegTech-services or what RegTech’s must be aware of in this business area

N/A.

Economic conditions

Market size for RegTech-services and biggest companies in this business area

We are not aware of Hungary-based RegTech companies.

Additional comments regarding the economic situation for RegTech-services or what RegTech’s must be aware of in this business area

N/A.

Authors

Disclaimer

© 2022, Lakatos, Köves and Partners Law Firm. All rights reserved by Lakatos, Köves and Partners Law Firm as author and the owner of the copyright in this chapter. Lakatos, Köves and Partners Law Firm has granted to Multilaw non-exclusive worldwide license to use and include this chapter in this guide and to sublicense Lexis Nexis, a division of RELX Inc. and its affiliates certain rights to use and distribute this guide.

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

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