Forex Regulatory Tips
Greece HCMC regulates foreign exchange, and Investment Services Firms (AEPEY) in the investment firm can carry out foreign exchange activities.
The Greek HCMC is a legal entity dedicated to ensuring the orderly and efficient functioning of the capital market. HCMC is a member of the European Securities and Markets Authority (ESMA).
Founded in 1991
1) Supervise the implementation of capital market regulations;
2) Supervision of domestic and foreign companies providing investment services, collective investment companies, corporate managers, new investment companies and public companies: disclosure obligations, acquisitions, offerings, financial statements and changes in shareholders;
3) Supervise the implementation of anti-money laundering regulations;
4) Regulatory markets, clearing houses, and investor compensation programs;
5) Handling investor complaints;
6) Sanctions against any natural or legal person violating capital market regulations: reprimands, fines, suspension of trading and licenses, criminal proceedings.
The Greek HCMC regulates the reporting and notification of securities companies listed on the regulated market, as well as companies trading securities on the Athens Stock Exchange. HCMC is also responsible for the registration and supervision of capital market brokers. Brokers include investment service providers (such as investment service companies, investment intermediaries, etc.), transferable securities collective investment plans, and alternative investments (non-mainstream investments such as stocks, bonds, and futures options).
Investment services company application fee of 5,000 euros per investment service or activity fee (except MTF operation) 2,000 euros MTF operating services 50,000 euros per ancillary service 1,000 euros per financial instrument >
Regulatory framework "Greek Markets in Financial Instruments Regulations and Other Regulations"; "EU Markets in Financial Instruments Directive" (MIFID II); "EU Markets in Financial Instruments Regulations" (MiFIR) Segregation of funds has reporting requirements Annual audit reports, transaction reports and countermeasures Money Laundering Reporting Records Requirements Financial Instruments Transaction Records Leverage Limits 2:1 to 30:1 Negative Balance Protection Mechanisms
1. Go to the website: http://www.hcmc.gr/en_US/web/portal/parohoiepey, select the investment company category, and view the list.
2. Click the company name to view the company details.
If you see a √ under item i) or a √ under item 2d) of Ancillary services (ancillary services), it means that the company can provide foreign exchange services.
i) Item means: financial contracts for differences
Item 2d) means: foreign exchange services where these are connected to the provision of investment services
Appeal for rights
The Greek HCMC handles complaints involving violations of capital market regulations and imposes administrative sanctions on those involved. Investors can submit complaint forms by fax (fax number 210 3377108) or by post.
The Greek HCMC will handle the complaint according to the complaint serial number, and the processing time will depend on the content of the complaint and the severity of the violation, and inform the result in writing.
Complaint form download: http://www.hcmc.gr/aweb/files/ypoboli_paraponon/files/Complaint%20Form.pdf
International Capital Markets Committee: http://www.hcmc.gr/en_US/web/portal/internationalhcmc
International Exchange: http://www.hcmc.gr/en_US/web/portal/internationalexchange
Central Bank of Greece: www.bankofgreece.gr
Address of the Greek Capital Market Committee: 1 Kolokotroni & Stadiou Str., 105 62 Athens, Greece
Phone: ( 30) 210 33.77.100
Thessaloniki Branch: Contact: Mr. A. Tsoukalas, Tel: 30 2310 22.40.10