So I got migrated from IBUK to IBCE and today, while logging to the Client Portal I was asked for consent to "Election to share KHR data" with the following description: The link leads to this pdf and honestly, I still don't know what does it mean if I do consent and what if not. Are there any consequences of not opting in? That's another example of terrible user exeperience with IBKR. I feel dumb again not understanding what they are really trying to say. Can anyone explain this to me in simple english? Much appreciated
I think that your anger should not be towards IB, but to the Hungarian government. IB is simply following Hungarian law with this topic. In layman's terms it states that your personal data will be entered in a government database (KHR, CCIS) if you fail to pay back a loan in time. You are being asked whether your data in this register may be forwarded to other parties (e.g. banks, financial institutes).
Thank you @HobbyTrading, that was helpful. But is anyone aware of what could be a negative side effect for me (if any) if I do NOT consent?