Best Securities Lawyers in Arta

About Securities Law in Arta, Greece

Securities law in Greece governs how shares, bonds, investment funds, derivatives, and other negotiable financial instruments are issued, traded, and supervised. Residents and businesses in Arta typically access the Greek capital market through brokers and banks that operate nationally, including those connected to the Athens Stock Exchange. Oversight is performed at the national level by the Hellenic Capital Market Commission, often called the HCMC, and by European institutions under European Union rules. Although Arta is not itself a listing venue, anyone in Arta who invests, raises capital, or provides investment services is subject to the same legal framework that applies across Greece.

Greek securities rules draw heavily from European Union legislation. This includes investor protection rules, licensing and conduct standards for investment firms, disclosure requirements for issuers, market abuse prohibitions, and rules on prospectuses for public offerings. In practice, this means that both local and cross-border investments made from Arta are regulated to common European standards, with Greece specific provisions layered in.

Why You May Need a Lawyer

You may want legal help if you are an issuer planning to raise funds. A lawyer can assess whether your share or bond issuance triggers a prospectus requirement, whether an exemption applies, and what ongoing disclosure and corporate governance obligations you will have. Counsel can also draft or review offering documents, subscription agreements, and shareholder communications.

Investors often need advice when reviewing complex products, margin and derivatives agreements, or when suitability and appropriateness assessments by a broker are in dispute. If you suspect mis selling, unauthorized trading, misleading information, or conflicts of interest, a lawyer can evaluate the facts, your contractual terms, and the best forum for a complaint or claim.

Investment firms and intermediaries need guidance on licensing, passporting under EU rules, compliance policies, client documentation, product governance, and reporting to authorities. A lawyer can also assist with inspections by the HCMC and with internal investigations.

Disputes and investigations benefit from early legal input. This includes insider trading or market manipulation inquiries, shareholder disputes around general meetings or pre emption rights, contested takeovers, or alleged violations of disclosure rules. Counsel can help preserve evidence, navigate deadlines, and communicate with regulators.

If you are a startup or small business in Arta considering crowdfunding or a private placement, a lawyer can advise on whether your offer is public or private, whether you can rely on an exemption, and how to prepare compliant investor materials without unnecessary cost.

Local Laws Overview

Regulatory bodies. The Hellenic Capital Market Commission is the primary securities regulator in Greece. The Athens Stock Exchange and its market operators run the trading and clearing infrastructure. The Hellenic Central Securities Depository maintains the dematerialized securities system. The Bank of Greece supervises credit institutions and payment systems that connect to the capital market.

Licensing and conduct. Provision of investment services such as receiving and transmitting orders, execution, portfolio management, and investment advice requires authorization under Greek law implementing the EU Markets in Financial Instruments Directive, called MiFID II. Firms must meet capital, organizational, and conduct of business requirements, including product governance, best execution, conflicts management, and client categorization into retail, professional, and eligible counterparties.

Investor protection. Before providing services, firms must perform suitability or appropriateness tests, provide costs and charges disclosures, and deliver standardized key information documents where required, such as under the EU PRIIPs regime. Complaints handling procedures must be in place, and retail clients enjoy the highest level of protection.

Public offerings and prospectuses. A public offer of transferable securities typically requires an EU compliant prospectus approved by the HCMC, subject to exemptions. Exemptions may apply for offers limited to qualified investors, small offers within EU thresholds, or other specific cases. Even when a prospectus is not required, information document obligations or advertising rules can still apply. The EU Prospectus Regulation and related guidelines shape these requirements.

Market abuse. Insider dealing, unlawful disclosure of inside information, and market manipulation are prohibited under the directly applicable EU Market Abuse Regulation. Issuers with securities admitted to trading on a regulated market or certain multilateral trading facilities must maintain insider lists, disclose inside information to the market in a timely manner subject to permitted delay, and implement sound disclosure controls. The HCMC investigates and may impose administrative sanctions, while criminal penalties can apply under national law.

Ongoing disclosure and transparency. Listed issuers must publish periodic financial reports and major shareholding notifications under rules that transpose the EU Transparency Directive. Significant changes in voting rights, treasury share transactions, and other key events must be notified and, where relevant, publicly disclosed.

Corporate governance for listed companies. Greek law sets board composition requirements, independence criteria, audit committee rules, internal control frameworks, and shareholder rights for listed entities. These obligations complement the general company law framework that governs Greek sociétés anonymes, including rules on share capital increases, pre emption rights, and general meetings.

Takeover bids. Mandatory and voluntary takeover bids for companies with shares admitted to trading are regulated by national law that implements the EU Takeover Bids Directive. Thresholds for mandatory bids, equitable price, and procedural timelines are strictly defined. The HCMC oversees bid documentation and processes.

Investment funds. Undertakings for collective investment in transferable securities and alternative investment funds are governed by national laws implementing the EU UCITS and AIFM frameworks. Managers require authorization and are subject to custody, valuation, risk management, and disclosure rules.

Trading, clearing, and settlement. Trades on the Athens market are cleared and settled under the Greek market infrastructure, with dematerialized securities held at the central securities depository. EU Central Securities Depositories Regulation and Settlement Finality rules apply. Short selling is restricted under the EU Short Selling Regulation, including transparency of significant net short positions.

Regional practice in Arta. Retail investors and small issuers in Arta typically work through Athens based infrastructure and national or cross border intermediaries. Disputes may be brought before the courts with jurisdiction defined by contract terms or Greek procedural rules, often in Athens for market matters, though local courts in Arta may be competent depending on the case.

Frequently Asked Questions

What counts as a security in Greece

Securities include shares, corporate bonds, government bonds, rights issues, warrants, depository receipts, units in mutual funds or alternative investment funds, and many derivatives. Whether an instrument is a security depends on its legal form and transferability. A lawyer can classify your instrument to determine the applicable rules.

Do I always need a prospectus to raise funds

No. A prospectus is required for public offers and admissions to trading unless an exemption applies. Common exemptions include offers only to qualified investors, offers to fewer than a certain number of investors per member state, or small offers within EU monetary thresholds. Even if exempt, you may need an information document and must comply with advertising and investor protection rules.

How are investors protected when receiving investment advice

Authorized firms must assess suitability, disclose costs and charges, explain risks, and act honestly, fairly, and professionally in the best interests of clients. Retail clients receive the strongest protections, including clear pre contract information and post trade reporting. You can file a complaint with the firm and escalate to the regulator or an ombudsman if needed.

What are my rights as a shareholder in a Greek société anonyme

Shareholders typically have voting rights at general meetings, dividend rights, pre emption rights in capital increases unless lawfully excluded, the right to information, and minority rights to request audits or convene meetings under specific thresholds. Listed companies are subject to additional corporate governance obligations designed to protect investors.

How is insider trading defined

Insider dealing occurs when a person possesses inside information about an issuer or instrument and uses it to trade or attempts to trade. Inside information is precise, not public, and likely to have a significant price effect if made public. Unlawful disclosure of inside information and market manipulation practices are also prohibited. Significant administrative and criminal penalties may apply.

What should I do if I suspect mis selling or unauthorized trading by my broker

Collect your account statements, order tickets, emails, and call recordings if available. Submit a written complaint to the firm through its official complaints channel. If the outcome is unsatisfactory, you can escalate to the HCMC or the financial ombudsman. A lawyer can assess breach of suitability duties, execution errors, or conflict management failures and advise on damages or settlement.

Can a small business in Arta use crowdfunding

Yes, but you must use an authorized platform under the European crowdfunding framework or rely on a compliant exemption. There are disclosure, investor protection, and investment limit rules. Legal advice helps you select the correct route, prepare investor materials, and avoid an inadvertent public offer.

How are takeovers of listed companies regulated

When an acquirer crosses a legal threshold of voting rights, a mandatory bid for the remaining shares may be required at an equitable price. Voluntary bids are also possible. There are strict timetables, documentation standards, and disclosure and fairness requirements, monitored by the HCMC.

What taxes apply to dividends and share sales

Dividends and capital gains from securities are subject to Greek tax rules, which can change and may interact with double tax treaties. Stock exchange transactions may also attract a transaction tax. Your personal rate and reporting obligations depend on your residency and the type of instrument. Seek current advice from a tax professional before trading or distributing profits.

Where will a securities dispute be heard

Jurisdiction is often set by your contract. Many brokerage and issuer documents designate Athens courts or arbitration. Depending on the facts and contract, local courts in Arta may be competent. A lawyer will review forum selection and arbitration clauses and advise on the most efficient venue.

Additional Resources

Hellenic Capital Market Commission. The national regulator that authorizes investment firms, oversees market conduct, approves prospectuses, and handles investor complaints and enforcement.

Athens Stock Exchange and market operators. Provide official rulebooks, corporate actions calendars, and issuer disclosures that are relevant to Greek trading and listings.

Hellenic Central Securities Depository. Maintains the dematerialized securities system and provides information on investor accounts and settlement processes.

Bank of Greece. Supervises credit institutions that provide investment and custody services linked to the capital markets and publishes financial stability reports.

European Securities and Markets Authority. Issues guidelines and Q and A documents on EU rules such as MiFID II, the Prospectus Regulation, and the Market Abuse Regulation that apply in Greece.

Hellenic Financial Ombudsman. Provides an out of court dispute resolution avenue for consumers and small businesses in banking and investment services.

General Commercial Registry, known as GEMI. Source for corporate records, board filings, and share capital actions for Greek companies, which can be crucial in investor due diligence.

Arta Bar Association. Can refer you to local lawyers with experience in securities, corporate, and financial services matters.

Next Steps

Define your goal. Clarify whether you need to raise capital, challenge a broker action, invest in a product, or respond to a regulatory inquiry. This frames the legal work and timelines.

Gather documents. Collect contracts, prospectuses or information memoranda, account statements, emails, meeting minutes, corporate resolutions, and any marketing materials. Keep a chronological record of key events.

Check deadlines. Prospectus reviews, shareholder meeting notices, bid timetables, and complaint escalation windows are deadline driven. Early action preserves rights and options.

Consult a lawyer. Speak with a securities lawyer who knows Greek and EU capital markets. Ask about experience with HCMC procedures, listing and disclosure rules, and investment disputes. Discuss scope, budget, and a plan for the first 30 to 60 days.

Consider parallel steps. You may need to notify your broker in writing, make a report to the HCMC, or issue a market announcement if you are an issuer. Coordinate legal and communications strategies to remain compliant.

Review settlement and remediation options. Many securities disputes resolve through negotiation or ombudsman processes. If you are an issuer, consider remedial disclosures, governance enhancements, or investor relations steps to reduce risk.

This guide is general information. For advice on your situation in Arta, seek counsel who can apply Greek law and EU rules to your facts.