The Hungarian Regulatory Authority (SZTFH) and the Economic Competition Authority (GVH) have formalized their collaboration through a new agreement. This partnership aims to enhance fair competition, healthy market operations, and consumer protection.

In recent years, both authorities have worked together on various initiatives to protect Hungarian consumers, including actions against businesses illegally selling smoking imitation devices and shutting down illegal online gambling sites.

During the signing ceremony, Dr. László Nagy, president of the SZTFH, emphasized the importance of closer cooperation to fulfill their legal responsibilities effectively. He noted that modern economic conditions often lead to market distortions that are not solely linked to individual violations but stem from structural issues within the market.

The agreement aims to enable timely responses to these challenges, supported by amendments to the law prohibiting unfair market practices and competition restrictions, which will take effect in December 2025. This legal framework is designed to address existing problems and proactively prevent future market distortions.

Under the agreement, the authorities will collaborate on expedited sectoral investigations related to mining solid mineral resources and the construction industry. They will also coordinate efforts against illegal content in the gambling and tobacco markets across various platforms, and support alignment in corporate risk management systems and sustainability communication in the ESG sector.

Dr. Nagy highlighted that all actions will be conducted within the rule of law, ensuring that business rights, fair procedures, and the possibility of legal remedies are fully respected. This agreement represents a commitment to fair competition, healthy market operations, and consumer protection.

GVH president Csaba Balázs Rigó stressed the importance of creating synergies between the GVH and SZTFH in competition law and regulatory matters, market supervision, and consumer protection, which will contribute to enhancing the competitiveness of the Hungarian economy.

He also pointed out the need to protect vulnerable citizens, such as the elderly, sick, children, and those susceptible to gambling or addiction issues, emphasizing that their strengthened cooperation will expand their tools for protecting these groups.

In light of current global challenges, Rigó noted that cooperation is increasingly vital, as shared experiences can enhance the effectiveness and social utility of their work. The new agreement elevates the collaboration between the SZTFH and GVH to a new level, ensuring comprehensive and professional examination of market processes and proportionate, targeted actions when necessary.