ROKAS

Capital Markets & Financial Regulation News – September 2016-Draft Law amending law 4099/2012 and other provisions The draft law “amending law 4099/2012 and other provisions” has been submitted to the Greek Parliament1 aiming at the transposition of Directive 2014/91/EU (known as “UCITS V”) and, in turn, the modification of law 4099/2012 on Undertakings for Collective...Read More

Capital Markets & Financial Regulation News – June 2016 Amendments to Greek Laws 3556/2007, and 3401/2005 and transposing the Transparency and Prospectus Directives Amendments recently brought to Greek Laws 3556/2007 and 3401/2005, transposing the Transparency and Prospectus Directives, respectively: Law 4374/2016 (GG A’ 50) has recently entered into force aiming at the alignment of the...Read More

The levels of Non-Performing Loans NPLs portfolios NPLs in Greece have increased significantly, due to the long-standing crisis, thus negatively affecting the credit supply channel and are causing a worsening of the banking sector financial soundness indicators. Following the latest recapitalization of Greek banks, “cleaning” the banking sector balance sheet became an imperative for new...Read More

Capital Markets & Financial Regulation News – February 2016 “New financing opportunities for businesses”-Securities,Derivatives Sructured Finance,Corporate Governance European Long-Term Investment Funds European Social Entrepreneurship Fund European Venture Capital Funds Crowdfunding Possibilities for public funding and matched – public and private- financing Information Asymmetry: Local intermediaries to “bridge the gap” Greece, as well as Europe, requires...Read More

Capital Markets & Financial Regulation News – November 2015-Capital Markets Union Capital Markets Union:Towards new vital sources of funding for SMEs? SMEs financing vehicles:The role of the European Union Venture Capital Funds Regulation(EuVECA) Capital Markets Union The European Commission has recently launched its ambitious plan towards a true single market for capital in Europe, a...Read More

The European Commission published an Action Plan on building a Capital Markets Union On 30 September 2015 the European Commission published its Action Plan on building a Capital Markets Union (CMU). The Action Plan describes the benefits of such CMU, the main axes on which its actions towards achieving the CMU will be focused, and...Read More

Prohibition of short selling up to the 30th September 2015 Following the re-opening of the Hellenic Capital Markets, the Hellenic Capital Markets Commission had issued its decision No. 726/03.08.2015, under which, it had prohibited the short selling of shares and the transactions in any financial instrument which would create or increase a net short position...Read More

Reopening of the Hellenic Capital Market After more than one month of suspension of its operation, the Hellenic Capital Market reopened on Monday, 03.08.2015, following a Ministerial Decision dated 31.12.2015, which regulates the operational details, and a decision of the Hellenic Capital Markets Commission dated 03.08.2015. Ministerial Decision (31.12.2015) Lifting of the restrictions of the...Read More

Capital Markets & Financial Regulation News – Bank Holiday-July 2015 “Bank Holiday and Capital Controls in Greece” and “ECB’s OMT Programme is compatible with EU law, according toEuropean Court judgment” From the 28.06.2015 a Bank Holiday has been imposed inGreece by means of a Presidential Legislative Act (PLA) onall credit institutions operating in Greece (Greek...Read More

Capital Markets & Financial Regulation News – Bankruptcy remote regimes (“Bankruptcy remote” regimes:From segregation to portability) “Bankruptcy remote” regimes: From segregation to portability ƒ Segregation aspects Custodian-level segregation Depositary-level segregationŠ “Clearing”- level segregation: CCPs and Clearing Members  CSD- level segregation ƒ Right of asset re-use: “Clients’ consent?” Following Lehman Brothers default case and other relevant...Read More