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Banking & Finance

Hungary

As a participant in the global banking and finance industry, you are faced with increasing financial, regulatory and political pressures. New rules on capital requirements, risk profile and investor protection pose challenges for your organisation. We have unmatched geographical coverage and more English and US qualified banking and finance partners on the ground in CEE than any other law firm. We are your first port of call whether you are planning a cross-border transaction with a multi-jurisdictional security package or loan portfolio or implementing a first-of-a-kind financing structure in your domestic market.

Whether you are a financial institution, equity house, asset manager, mutual fund, accountant, privately owned company, corporation or public entity, your business is only as good as the products and services you sell. That’s why we organise our teams along the business lines of your sector, giving us deep insight into the commercial and legal issues you face. From general corporate lending to acquisition and leveraged finance, derivatives and securitisations to real estate finance and corporate recovery, we can help you achieve the best outcome, both locally and across jurisdictions.

The Banking & Finance Team in Hungary is a leading practice and top-ranked by independent legal directories. With cca. 15 UK and locally qualified advisors it is the largest banking team in the country. Able to deliver a full legal service to clients, we often coordinate regional and. cross-border transactions. CMS Hungary connects you to over 500 banking and finance lawyers in 42 countries worldwide.

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It was great that they used their network to help on international matters.

Chambers Europe, 2018

We turn to this firm when it is urgent or complicated, and we require high quality.

Chambers Europe, 2016
April 2018
High­lights of ex­per­i­ence in Bank­ing & Fin­ance in Hun­gary

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04/09/2019
Hun­gary launches long-awaited green premi­um 'METÁR' tender
On 2 Septem­ber 2019, Hun­gary launched the first pi­lot tender for the METÁR sys­tem, which sup­ports elec­tric en­ergy pro­duced from re­new­able sources.   Ori­gin­ally in­tro­duced two years ago (1 Janu­ary 2017), the METÁR sys­tem was cre­ated to en­hance new power-plant.
07/08/2019
Hun­gary cre­ates tax-ex­empt as­set man­age­ment found­a­tions for stor­ing...
Re­cent changes to the Hun­gari­an leg­al and tax sys­tem have cre­ated a new type of leg­al en­tity: an as­set man­age­ment found­a­tion. This new en­tity en­ables fam­il­ies to man­age, pre­serve and in­crease their wealth over gen­er­a­tions, sim­il­ar to the private found­a­tions.
02/08/2019
Hun­gari­an Com­pet­i­tion Au­thor­ity finds no ma­jor prob­lems with pay­ment...
Bring­ing a sigh of re­lief from pay­ment-card is­suers, the Hun­gari­an Com­pet­i­tion Au­thor­ity (HCA) has just re­leased a fi­nal re­port on pay­ment card ac­cept­ance ser­vices (Fi­nal Re­port), and iden­ti­fied no ser­i­ous com­pet­i­tion con­cerns.
26/07/2019
EU tax­onomy: Steer­ing cap­it­al flows to­wards a sus­tain­able fu­ture for...
Last month a group of ex­perts rep­res­ent­ing a range of European fin­an­cial ser­vices sec­tors, in­ter­na­tion­al or­gan­isa­tions and civil so­ci­ety pub­lished their re­com­mend­a­tions for an EU tax­onomy for sus­tain­able eco­nom­ic activ­it­ies.
19/07/2019
Po­s­eidon Prin­ciples and re­spons­ible ship fin­an­cing
On 18th June 2019, 11 banks with col­lect­ively over $100bn in as­sets and rep­res­ent­ing nearly 20% of the glob­al ship fin­ance signed a glob­al frame­work agree­ment, called the Po­s­eidon Prin­ciples. These are dir­ec­ted to­wards meet­ing the Par­is Agree­ment’s tar­get of.
16/07/2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Data Pro­tec­tion The European Gen­er­al Data Pro­tec­tion Reg­u­la­tion raises at least two is­sues in par­tic­u­lar in this con­text. First: is pseud­onym­ous in­form­a­tion per­son­al data? Second: how can a “right to be for­got­ten” be con­sist­ent with an im­mut­able ledger? Oth­er.
11/07/2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Rem­ed­ies: In Prin­ciple The ori­gin­al Bit­coin White Pa­per stressed the im­port­ance of trans­ac­tions not be­ing re­vers­ible. Ir­re­vers­ib­il­ity is a func­tion of Bit­coin, de­lib­er­ately de­signed to re­duce trans­ac­tion costs and im­prove ef­fi­ciency.
08/07/2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Jur­is­dic­tion­al is­sues Many com­ment­at­ors note that true de­cent­ral­isa­tion im­plies that en­force­ment of ob­lig­a­tions must be ef­fected through the sys­tem. A per­mis­sioned sys­tem may in­clude con­ven­tion­al gov­ern­ing law and jur­is­dic­tion pro­vi­sions with­in a con­trac­tu­al.
03/07/2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Leg­al Per­son­al­ity De­term­in­ing wheth­er a sys­tem has leg­al per­son­al­ity has im­plic­a­tions for many of the ques­tions con­sidered in re­la­tion to this top­ic. In 'Ho­ri­zon Scan­ning — Block­chain: The Leg­al Im­plic­a­tions of Dis­trib­uted Sys­tem­s', the Law So­ci­ety ques­tions.
02/07/2019
Crowd­fund­ing: The Coun­cil for the EU pub­lishes the next step to­wards...
On 26 June 2019, the Coun­cil for the European Uni­on pub­lished a com­prom­ise pro­pos­al in re­la­tion to the European Com­mis­sion’s draft frame­work to reg­u­late crowd­fund­ing plat­forms in the EU (the "Crowd­fund­ing Reg­u­la­tion").
21/06/2019
EU pub­lishes flag­ship re­port on what con­sti­tutes sus­tain­able eco­nom­ic...
Fol­low­ing mul­tiple dead­line ex­ten­sions, the Tech­nic­al Ex­pert Group on Sus­tain­able Fin­ance (“TEG”) re­leased its clas­si­fic­a­tion sys­tem for en­vir­on­ment­ally sus­tain­able eco­nom­ic activ­it­ies (the “Tax­onomy”) this week.
19/06/2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Block­chain and oth­er dis­trib­uted ledger tech­no­lo­gies (DLT) are ap­proach­ing the main­stream. Tech­no­logy com­pan­ies of­fer products for com­mer­cial pro­jects. IB­M's Block­chain Plat­form ref­er­ences “500+ cli­ent en­gage­ments to date”.