| Financial Markets | Insurance | Banking | Euro |
|---|---|---|---|
| Hellenic Capital Market Commission | Bank of Greek - Department of Private Insurance Supervision | Bank of Greek | Bank of Greek |
Greek Financial and Insurance Markets Regulation
Greek financial and insurance markets are supervised by two national competent authorities.
Hellenic Capital Market Commission
HCMC supervises Greek and foreign firms offering investment services, undertakings of collective investments, their Managers, new investment undertakings, as well as the listed companies in respect of their transparency obligations, takeover bids, corporate events, prospectuses in case of rights issues, financial statements, the shareholders and their obligations on major holdings change notification. HCMC also monitors and supervises transactions as to market abuse issues and actions of persons holding inside information, as well as the compliance of supervised persons with money laundering legislation.
HCMC supervises the regulated markets, the clearing houses and investors' compensation schemes, such as the Guarantee Fund. It also observes the domestic and international developments, conducts research, when necessary, and certifies the professional suitability of market's participants. It receives and investigates investors' complaints.
HCMC has the authority to impose administrative sanctions and measures, such as reprimand, fines, trading and license suspension, on natural and legal persons that violate the capital market legislation, and the authority to initiate criminal proceedings in cases where there are indications of serious criminal offenses in relation to the capital market framework.
For more information: http://www.hcmc.gr/en_US/web/portal/home#
Bank of Greek - Department of Private Insurance Supervision
The Department of Private Insurance Supervisione is competent: to supervise Greek-based insurance and reinsurance undertakings; to supervise the foreign branches of Greek-based insurance and reinsurance undertakings, as well as their activities under the freedom to provide services in other countries of the European Union (EU) or of the European Economic Area (EAA); to supervise the domestic branches of insurance and reinsurance undertakings based in third countries (outside the EU and the EEA); and to supervise insurance intermediaries, whether natural or legal persons.
For more information: https://www.bankofgreece.gr/en/the-bank/organisation/organisation-chart/department-of-private-insurance-supervision
Bank of Greek
The Bank of Greece is the central bank of the country.
It is an independent authority that pursues price stability, i.e. control over inflation (the rate of increase in prices) and the stability and smooth operation of the financial system (banks, insurance companies, etc.).
For more information: https://www.bankofgreece.gr/en/the-bank/tasks