Dec 5, 2022

Αppointing a local Paying Agent and Distributor

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Pursuant to recent amendments introduced by law 4920/2022 (which, amongst others, transposed into Greek law, the Directive EU 2019/1160 on the cross-border distribution of #funds ) and decision no. 15/966/30.09.2022 of the Board of Directors of the Hellenic Capital Market Commission (HCMC), #ucits from another member state intending to offer units/shares in Greece are no longer required to have a local presence in Greece by appointing a local Paying Agent and Distributor.

This change will facilitate the marketing of UCITS from other member states as the UCITS/ its management company may going forward undertake this activity, provided that they are authorized to perform the relevant activities in their home member state.

The HCMC has also issued updated guidelines in English in relation to marketing of UCITS in Greece (Circular 61 “UCITS authorized in another Member State intending to market units/shares in Greece”) which are available in the website of the HCMC (HCMC’s Circulars – HCMC).

See our post in our company’s LinkedIn page

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