Operating procedures

The basis and legal framework for the operation of the FAB are provided by the MNB Act, and the Hungarian Financial Arbitration Board’s Operating Procedures. The operating principles of the FAB are complying with Commission Recommendation 98/257/EC, and Directive 2013/11/EU of the European Parliament and of the Council of 21 May 2013 on alternative dispute resolution for consumer disputes (ADR) as well. The Operating Procedures of the Board is being amended from time to time. Changes in relevant laws or the decision of the Chair may require the modifications. The Operating Principles take the form of a decree issued by the Chair. Currently, the 2/2014 decree of the Chair is currently in force, which can be found below: