The heads of the National Consumer Protection Office (NFH), Hungary’s Competition Office (GVH) and Hungarian market regulator PSZAF on Monday signed an agreement regarding cooperation in the their effort to curb unfair business practices.
The cooperation is based on the Unfair Competition Act and will utilize a common data base to promote more effective action against such practices.
Beginning on Monday, the NFH will be entitled to take action against unfair business practices, while the GVH is responsible for instances regarding a violation of competition rules and the PSZAF is in charge of cases involving financial institutions.
NFH Director Tamas Wittich said the Unfair Competition Act gives fair advantage to the fair businesses, contributes to the whitening of the grey economy and heightens the awareness of the consumers.