Investors in failed Hungarian brokerage demand full compensation from government

Hundreds of people who invested in a collapsed brokerage in Hungary are demanding the government compensate fully for their losses.

Some 400 investors protested Saturday outside an office of the Quaestor brokerage, supervised since last month by the National Bank of Hungary after it was suspected of issuing some 150 billion forints (505 million euros, $535 million) in unauthorized bonds.

The investors say the government failed to protect their money because of lax financial oversight.

The governing Fidesz party has proposed raising the maximum compensation amount from 20,000 euros to 100,000 euros per investor. But Prime Minister Viktor Orban said the banking sector, which would have to provide the extra funds, needed to be consulted first.

Protester Istvan Kalman-Piko said he and others were "close to a nervous breakdown."