Jan 25, 2023

HCMC draws attention to compliance with the provisions of article 18 of Regulation (EU) 596/2014 (MAR)


The Hellenic Capital Market Commission (HCMC) draws attention to compliance with the provisions of article 18 of Regulation (EU) 596/2014 (MAR) and underlines issues related to the drawing up and update of insider lists. Among others: (i) persons working with issuers’ counsels, including foreign counsels, who are recipients of inside information, should be included in the list; (ii) necessity of making a proper, clear and exhaustive description of inside information in the list; (iii) possibility of having a section with permanent holders of inside information due to their position or duties; (iv) compulsory use of templates of Implementing Regulation (EU) 1210/2022; (v) compliance with GDPR provisions while treating personal data included in the list which is necessary for identification purposes; (vi) obligation to immediately update the list in case any of the events provided for in paragraph 4 of article 18 of MAR occurs; (vii) list to be kept for at least five years after it is drawn up or updated; and (viii) list not to be confused with the list of all persons discharging managerial responsibilities.
Issuers should take all reasonable steps to ensure that any person on the insider list acknowledges in writing the legal and regulatory duties entailed and is aware of the sanctions applicable to insider dealing and unlawful disclosure of inside information.

Below is the link to the letter of the HCMC:

See our post in our company’s LinkedIn page


Year end capital markets transactions

The last months have been very exciting and active for our #capitalmarkets team. We advised our clients in the successful signing of seven sales of big loan portfolios of more than 1 billion total GBV and of multiple single ticket loan sales. Some of these...

Αppointing a local Paying Agent and Distributor

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...

Law 4972/2022 – Ιmposition of stamp duty on interest bearing loans

Law 4972/2022 was passed on 23-09-2022 which, among others, clarified the #tax regime in respect of the imposition of #stampduty on interest bearing loans. By virtue of article 172 of law 4972/2022, article 63 of law 2859/2000 on VAT has been amended accordingly so as...