Financial Supervisory Authority

Financial Supervisory Authority

- Constitution of Hungary

ChapterVIII/A - Hungarian Financial Supervisory Authority

Article 40/D
(1) The Pénzügyi Szervezetek Állami Felügyelete is the body responsible for oversight, monitoring and regulation of the financial intermediation system of the Republic of Hungary. The Pénzügyi Szervezetek Állami Felügyelete shall be responsible to ensure the smooth functioning of the financial intermediation system.
(2) The President of the Pénzügyi Szervezetek Állami Felügyelete shall be appointed by the President of the Republic for a term of six years, and the vice presidents are appointed by the Prime Minister also for a term of six years.
(3) The President of the Pénzügyi Szervezetek Állami Felügyelete shall report to Parliament on the work of the Authority on an annual basis.
(4) The President of the Pénzügyi Szervezetek Állami Felügyelete shall ­ within the framework of his responsibilities and duties ­ issue decrees under authorization by an act, which may not be contradictory to any act or government decree, or decree adopted by the Governor of the Magyar Nemzeti Bank. The President of the Pénzügyi Szervezetek Állami Felügyelete shall have authority to delegate powers for adopting decrees on his behalf upon a vice president designated by decree.

Constitution of Hungary

General Provisions
Parliament
President of the Republic
Constitutional Court
Parliamentary Ombudsman for Civil Rights
State Audit Office and the National Bank
Government
Armed Forces law enforcement agencies
Financial Supervisory Authority
National Media and Infocommunications Authority
Local Governments
Judiciary
Office of the Public Prosecutor
Fundamental Rights and Duties
Basic Principles of Elections
Capital and National Symbols
Final Provisions
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