The Resolution Committee was established by the Law 4335/2015 (Gov. Gaz. A’ 87/23.7.2015) which transpose Directive 2014/59/EE (L 173/190, 12.6.2014) into Greek legislation. The Law establishes, among others, rules and procedures concerning the recovery and resolution of investment firms and the Hellenic Capital Market Commission is appointed as the authority responsible for resolutions.
The Resolution Committee consists of the following three (3) members:
α) the Vice-Chairman of the Board of Directors of the Hellenic Capital Market Commission, who is not responsible for the day to day management of the competent Directorate for the investment firms, appointed as Chairman of the Committee,
β) a non executive member of the Board of Directors of the Hellenic Capital Market Commission and
γ) the Director of the Directorate of Research of the Hellenic Capital Market Commission.
The Resolution Committee is convened by the Chairman and meets at least once a month, on condition that two of its members are present.
The Resolution Committee, for the effective exercise of its responsibilities, is assisted and supported by the Resolution Unit which is autonomous and directly attached to the Resolution Committee. The Resolution Committee is not subject to instructions or orders from any other body of the Hellenic Capital Market Commission or any other state/government body.