From the start of February, investors may anonymously request the information that their investment service providers must supply the central bank, said László Windisch.

The NBH announced the measure last October, saying the change “could strengthen client confidence in the financial sector” following the failure of three independent brokerages early in the year because of fraud. Had the new system of checks been in place earlier, the brokerage scandal may have been avoided, Windisch said.

Under amended capital market legislation in force since the start of the year, investment service providers must submit data on the securities and cash positions of their clients, to the NBH by the fifth working day of each month.

Clients will be able to check their account data against that provided to them by their investment service providers five working days later.

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