Securities Finance In Greece

Statutes and regulations

1 What are the relevant statutes and regulations governing securities offerings? Which regulatory authority is primarily responsible for the administration of those rules?

Greek securities laws and regulations underwent a significant reform since 2003:

• Law 3152/2003 regulates the licensing, operation, organised exchanges (for securities and derivatives) and clearing houses in Greece, and requires that each organised exchange or clearing house is licensed by the Hellenic Capital Market Commission (HCMC);
  
  

• Law 3340/2005 implemented Directive 2003/6/EC on insider dealing and market manipulation (the Market Abuse Directive) and additional HCMC resolutions implemented the remaining relevant EU framework;