Hungarian Parliament votes to reveal the beneficial owners of private equity funds
HU · Szavazott a parlament a magántőkealapokról, megismerhetőek lesznek a tényleges tulajdonosok
On Tuesday morning, the National Assembly approved the proposal to amend the regulation of private equity funds with 193 votes in favor, no votes against or abstentions. The amendment aims to make it possible to identify the beneficial owners of private equity and venture capital funds; as a result, the rules on securities secrecy will also change.
Vezetői összefoglaló (AI)
- The National Assembly adopted the amendment to the regulation of private equity funds with 193 votes in favor and none against or abstaining. It aims to make the beneficial owners of private equity and venture capital funds identifiable.
- The amendment also expands the definition of beneficial owners for fiduciary asset managers and asset-management foundations: founders, asset managers, board members, and beneficiaries are included, not only settlors and people who control the assets.
- Anyone carrying at least 10,000 euros in cash across the border between Hungary and another EU member state must report it to the designated authority. The law takes effect on the third day after promulgation; Parliament also approved the MNB’s 2025 report.
- The article says the government decided in May to review private equity funds in Hungary. It reports that over the past 16 years the funds became favored tools of business circles close to Fidesz, while their actual beneficiaries largely remained secret.