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214:, which requires listed entities to establish an internal audit unit to monitor the company's audit process, reporting to the board of directors. Law No. 3016 of 2002 regulating corporate governance went into force on 20 June 2003, and allows the HCMC to impose sanctions for non-compliance, but the law has been criticized for lacking detail.
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The commission is responsible for monitoring compliance with the provisions of capital market law, and is funded by fees paid by the supervised entities. These include
Investment Firms, Mutual Fund Management Firms, Portfolio Investment Companies, Real Estate Investment Companies and Financial
198:, ensuring compliance with capital market legislation. Because of problems caused by the financial crisis that blew up in mid 2010, the commission banned short selling of shares listed in the Athens Exchange effective 28 April 2010, to remain in force until 28 June 2010.
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Until 2000, there were no laws covering corporate governance in Greece. The HCMC set up the
Committee on Corporate Governance in April 1999, which issued the Mertzanis Report in October 1999, entitled
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Law in 1991 and organized by the Greek Law 2324 of 1995, aims to "ensure the protection and the orderly and efficient operation of the capital market, which is crucial for the growth of the
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HCMC is the competent authority for supervising securities laws in Greece, including tender offers.
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Principles on
Corporate Governance in Greece: Recommendations for its Competitive Transformation
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210:. This functioned as a voluntary code. In November 2000 the HCMC issued the mandatory
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181:(ESMA) and "operates within its framework and under its auspices". According to
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345:. Hellenic Republic Capital Market Commission. 28 April 2011. Archived from
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in March 2005. As of June 2011 the chairman was
Anastassios Gabrielides.
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Intermediation Firms. The HCMC also oversees companies listed on the
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Code of
Conduct for Companies Listed on the Athens Stock Exchange
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396:"Stavros Thomadakis Chairman, Public Interest Oversight Board"
314:. Hellenic Republic Capital Market Commission. Archived from
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List of financial regulatory authorities by jurisdiction
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The chairman of the commission from 1996 to 2004 was
284:"Hellenic Capital Market Commission (HCMC) (Greece)"
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398:. Global Public Policy Symposium. Archived from
421:"DIRECTORATES OF THE CAPITAL MARKET COMMISSION"
221:, who went on to become first chairman of the
371:"Greece: Principles of Corporate Governance"
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179:European Securities and Markets Authority
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165:), established as a legal entity by
340:"To Members of the Athens Exchange"
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151:Hellenic Capital Market Commission
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373:. eStandardsForum. Archived from
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450:"Regulators in Greece"
423:. HCMC. Archived from
163:Επιτροπή Κεφαλαιαγοράς
51:Επιτροπή Κεφαλαιαγοράς
288:Practical Law Company
196:Athens Stock Exchange
34:37.97722°N 23.73361°E
503:Regulation in Greece
309:"ANNUAL REPORT 2009"
123:Charalampos Gotsis,
142:http://www.hcmc.gr/
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30: /
219:Stavros Thomadakis
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39:37.97722; 23.73361
478:Finance in Greece
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472:Categories
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406:2011-06-07
381:2011-06-07
356:2011-06-07
325:2011-06-07
294:2011-06-07
241:References
22:37°58′38″N
175:of Greece
25:23°44′1″E
229:See also
127:Chairman
189:Mandate
138:Website
75: (
264:. 2015
111:Greece
107:Athens
97:Greece
70:Formed
350:(PDF)
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167:Greek
159:Greek
270:2017
262:HCMC
155:HCMC
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