Bilateral Cooperation and Bilateral Memoranda of Understanding

 

Βilateral Co-operation

In the course of application of national and European legislation, the Hellenic Capital Market Commission, since its establishment, has developed information communication channels in order to enhance co-operation and exchange of information with the Competent Authorities of the EU member states and with third countries.

The bilateral co-operation relations, which have been developed by the Hellenic Capital Market Commission, are training and education visits in Greece by foreign competent authorities which occurred in the past and which will continue in the future. Indicatively, we mention the visits in the Hellenic Capital Market Commission from representatives from the competent authorities of Azerbaijan, Albania, Bulgaria, Jordan, Israel, Cyprus, Lithuania and Romania. In the cases of Bulgaria and Romania, members of the Hellenic Capital Market Commission's staff visited the respective competent authorities in the course of training and education visits and provision of related know how.

 

Μemoranda of Understanding

The purpose of the Memoranda of Understanding is to establish and implement a procedure for mutual assistance between the supervisory authorities, in order to enhance the performance of the functions they are entrusted with in the field of the securities markets. Through these Memoranda, the supervisory authorities can exchange useful confidential information, with the aim of ensuring the compliance with the legal and regulatory provisions in force. The Memoranda of Understanding between the supervisory authorities also constitute a first step in the establishment and further improvement of the relations among countries at the level of the capital markets, as they facilitate the international co-operation of the stock exchanges, companies and other agents of the capital market. In the context of the new European architecture for the supervision of financial markets, Memoranda of Understanding play a key role, since they are instrumental in the move towards the single supervision of the European market.

In the framework of the increase of its international relations, up to the present the Hellenic Capital Market Commission has signed the following bilateral Multilateral Memoranda of Understanding:

 

1996

  • Bilateral Memorandum of Understanding with the U.S. Securities & Exchange Capital Market Commission (17 December 1996).

1998

  • Bilateral Memorandum of Understanding with the Portuguese Comissao do Mercado de Valores Mobiliarios (9 July 1998),
  • Bilateral Memorandum of Understanding with the Securities and Exchange Commission of Cyprus (1 September 1998),
  • Bilateral Memorandum of Understanding with the Romanian National Securities Commission (30 November 1998).

1999

  • Bilateral Memorandum of Understanding with the Albanian Securities Commission (1 Αpril 1999).

2000

  • Bilateral Memorandum of Understanding with the Comissao de Valores Mobililirios of Brazil (17 May 2000),
  • Bilateral Memorandum of Understanding with the Central Bank of Cyprus (8 September 2000),
  • Bilateral Memorandum of Understanding with the Slovenian Securities Market Agency (6 October 2000),  
  • Bilateral Memorandum of Understanding with the Bulgarian National Securities Commission (1 December 2000).

2001

  • Bilateral Memorandum of Understanding with the Securities Commission of the Federation of Bosnia and Herzegovina (27 June 2001),
  • Bilateral Memorandum of Understanding with the Czech Securities Commission (28 June 2001),
  • Bilateral Memorandum of Understanding with the Capital Markets Board of Turkey (5 October 2001).

2002

  • Bilateral Memorandum of Understanding with the Financial Services Board of the Republic of South Africa (9 October 2002),

2003

  • Bilateral Memorandum of Understanding with the Hungarian Financial Supervisory Authority (8 January 2003),
  • Bilateral Memorandum of Understanding with the Polish Securities and Exchange Commission (1 August 2003).

2005

  • Bilateral Memorandum of Understanding with the Bulgarian Financial Supervision Commission (28 March 2005),
  • Bilateral Memorandum of Understanding with the Slovak Republic Financial Market Authority (28 June 2005),
  • Bilateral Memorandum of Understanding with the Israel Securities Authority (27 September 2005),
  • Bilateral Memorandum of Understanding with the Republic of Serbia Securities and Financial Market Commission (3 December 2005).

2007

  • Bilateral Memorandum of Understanding with the Capital Markets Commission of Dubai (14 September 2007),
  • Bilateral Memorandum of Understanding with the Securities Commission of Egypt (20 November 2007).

 

2012

  • Bilateral Memorandum of Understanding with the Supervisory Authority of the United Arab Emirates (11 January 2012).

 

2013

  • In the context of Directive 2011/61/EC on Alternative Investment Fund Managers, the HCMC signed bilateral Memorandums of Understanding with the regulators of the following jurisdictions: Albania, Australia, Bermuda, Brazil, British Virgin Islands, Canada, Cayman Islands, Dubai, FYROM, Guernsey, Hong- Kong, India, Isle of Man, Israel, Japan (FSA, MAFF. METI), Jersey, Kenya, Labuan, Malaysia, Maldives, Morocco, Mauritius, Mexico, Montenegro, Pakistan, Singapore, Republika Srpska, Switzerland, Tanzania, Thailand, Turkey, UAE and US (CFTC, OCC, SEC).

2015

  • Bilateral Memorandum of Understanding with the Central Bank of the Russian Federation (the Bank of Russia) (15 June 2015).

2016

  • Bilateral Memorandum of Understanding with the Securities and Exchange Organisation of Iran (SEO) (3 May 2016).

  • Bilateral Memorandum of Understanding with the Guernsey Financial Services Commission (30 May 2016).

2017

  • Bilateral Memorandum of Understanding with the China Securities Regulatory Commission (31 August 2017).

2023

  • Bilateral Memorandum of Understanding with the Bangladesh Securities and Exchange Commission (13 June 2023).