5b91ba1e-01aa-4c73-90fc-dd0ee8e9c8c5
591114
Άδεια λειτουργίας Ανώνυμης Εταιρείας Επενδυτικής Διαμεσολάβησης (ΑΕΕΔ)
At a glance
Points of service
DIRECTORATE OF BODIES, HELLENIC CAPITAL MARKET COMMISSION
Digital provision points
- The service is not provided digitally
Number of required documents
Description
This procedure concerns the issuance of an authorization to operate an Investment Intermediation Firm (AEED) and is addressed to legal and natural persons.
Basic information
Competent body
MINISTRY OF ECONOMY AND FINANCE
Authority responsible for the provision of the procedure
HELLENIC CAPITAL MARKET COMMISSION
Service / organizational unit of a authority entity
DIRECTORATE OF BODIES
Application
Application Type
Application
Submission by:
Presented by the applicant (email), Submitted by the applicant (digital), Submitted by the applicant (in person or by post)
Submitted by:
Legal entities, Persons
Title
Application for granting or amendment of authorisation for an AEED.
Notes:
The application is submitted to the Hellenic Capital Market Commission, together with the documentation required under the relevant legislation, to enable verification of compliance with the conditions set out therein. If an examination of the submitted documentation finds no evidence of non-compliance with the above, the Hellenic Capital Market Commission shall decide whether to grant the firm an authorisation to conduct investment intermediation. Applications submitted via email should be sent to the address info@cmc.gov.gr.
What you will need
Means of authentication, identification and signature
Related
Means of redress or appeal:
Administrative appeal, Hierarchical appeal/recourse
Application for review of the decision, or administrative appeal in accordance with Article 24 of Law 2690/1999. Applicants may request either that the administrative authority which issued the act revoke or amend it (request for review), or that the authority having jurisdiction over the authority which issued the act annul it (appeal). The administrative authority to which the relevant application is submitted must notify the applicant of its decision on the application no later than within thirty (30) days, unless a different deadline is set under specific provisions.
Other information
Alternative titles
AEED Authorisation
Official title
Granting of an operating license to an Investment Intermediation Firm
Languages supported
Greek, English
Categories
Trigger (submission method)
Application (handwritten)
N1
ΔΔ
8
9
0
0
8
0
83842
No
15224400
3981600
Identification document
71734
368056
8210
Supporting document
This procedure concerns the issuance of an authorization to operate an Investment Intermediation Firm (AEED) and is addressed to legal and natural persons.
3500.00
6000.00
4
0
0
6 months
1
Possession of passwords to enter software
If the application is submitted digitally, login credentials for the relevant software are required.
No
No
1
In accordance with Article 2(1) of Law 4514/2018, a fee of EUR 1 000 must be paid by the firm for the examination of an application for authorisation in accordance with the provisions of Article 87 of Law 4514/2018, increased by EUR 2 000 per investment service and activity listed in Section A of Annex I, and by EUR 500 per financial instrument listed in Section C of Annex I of the same law.
It should be noted that, in accordance with paragraph 6 of the same article, each AEED shall pay a contribution of EUR 350 in August of each year, provided that it holds an authorisation as at 30 June of that year.
3500 € - 6000 €
Cost Calculation
Quantitative
Method of Payment
Bank of Greece
Type of Cost
Impost
No
1
Form 01 Application for granting or amendment of authorisation for AEPEY
Form
Form 01 Application for granting or amendment of authorisation for AEPEY
Submission by:
Presented by the applicant (email), Submitted by the applicant (digital), Submitted by the applicant (in person or by post)
Submitted by:
Legal entities, Persons
Notes:
Form 01, which relates to investment services firms (AEPEY), shall be filled out by the person responsible for the application dossier of the investment firm seeking authorisation, adapted in the details concerning AEEDs.
Document submitted under requirements:
No
No
3062
2
Form 02 Questionnaire for members of the Board of Directors and persons actually managing the activities of the firm seeking authorisation.
Form
Form 02 Questionnaire for members of the Board of Directors and persons actually managing the activities of the firm seeking authorisation.
Submission by:
Presented by the applicant (email), Submitted by the applicant (digital), Submitted by the applicant (in person or by post)
Submitted by:
Legal entities
Notes:
Form 02, which is filled out by the members of the management body of the AEPEY seeking authorisation shall be filled out, mutatis mutandis, by the members of the management body of the investment intermediation seeking authorisation.
Document submitted under requirements:
No
No
3062
3
Form 03 List of members of the management body
Table / Statement / Catalogue
Form 03 List of members of the management body
Submission by:
Presented by the applicant (email), Submitted by the applicant (digital), Submitted by the applicant (in person or by post)
Submitted by:
Legal entities, Persons
Notes:
Form 03, which is filled out by the person responsible for the dossier of the AEPEY seeking authorisation, shall be filled out, mutatis mutandis, by the person responsible for the dossier of the investment intermediation firm seeking authorisation, with the details of the members of the Governing Body of the AEED.
Document submitted under requirements:
No
No
8689
4
Form 05: Questionnaire for a natural person intending to acquire a qualifying holding.
Form
Form 05: Questionnaire for a natural person intending to acquire a qualifying holding.
Submission by:
Presented by the applicant (email), Submitted by the applicant (digital), Submitted by the applicant (in person or by post)
Submitted by:
Persons
Notes:
Form 05, which is filled out by natural persons intending to acquire a qualifying holding in AEPEY shall be filled out, mutatis mutandis, by natural persons intending to acquire a qualifying holding in the investment intermediation firm seeking authorisation.
Document submitted under requirements:
No
No
3062
5
Form 06: Questionnaire for a legal person intending to acquire a qualifying holding
Document
Form 06: Questionnaire for a legal person intending to acquire a qualifying holding
Submission by:
Presented by the applicant (email), Submitted by the applicant (digital), Submitted by the applicant (in person or by post)
Submitted by:
Legal entities
Notes:
Form 06, which is filled out by legal persons intending to acquire a qualifying holding in AEPEY shall be filled out, mutatis mutandis, by legal persons intending to acquire a qualifying holding in the investment intermediation firm seeking authorisation.
Document submitted under requirements:
No
Alternative document of:
4
Yes
4084
European Regulation
1943
2017
Description
The Regulation sets out the information and requirements for the authorisation of an investment firm and, by analogy, for the authorisation of an Investment-Intermediation Company, including general information on capital, shareholders, the board of directors and the persons managing the undertaking, its organisation and financial information.
Legal references
https://eur-lex.europa.eu/legal-content/EL/TXT/PDF/?uri=CELEX:32017R1943
Law
5, 7 to 10, 21 to 23 and 87
4514
2018
14
Α
Description
The law transposes the provisions of Directive 2014/65/EU (ΕΕ) of the European Parliament and lays down the conditions and procedures for granting an operating licence to investment-services companies.
Legal references
https://api.et.gr/apiFEK/1/2018/14/pdf
European Regulation
1945
2017
Description
The Regulation includes the templates “Application form for authorisation as an investment firm” and “List of members of the management body” and also applies to applications for authorisation of Investment-Intermediation Companies.
European Regulation
565
2017
Other
ESMA 71-99-598 EBA/GL2017/12
2018
Board of Directors Decision
1/808
2018
Description
Transposition of Directive (EU) 2017/593.
European Regulation
16
596
2014
Ministerial Decision
2
97447
2024
4219
Β
1
Commencement of procedure
No
No
2
Receipt of the application and supporting documents in person
Responsible for Implementation
Competent Directorate
Μethod of Implementation
Manual Action
Yes
No
3
Receipt of the application and supporting documents via email
Responsible for Implementation
Competent Directorate
Μethod of Implementation
Manual Action
Notes
info@cmc.gov.gr
Yes
No
4
Receipt of the application and supporting documents in person in digital form
Yes
No
5
Sending of a letter to the firm seeking authorisation confirming receipt of the application
Responsible for Implementation
Competent Directorate
Μethod of Implementation
Action of the executive / co-competent body
Notes
Pursuant to Article 3 of Commission Implementing Regulation (EU) 2017/1945, ‘Within 10 working days from the receipt of the application, the competent authority shall send an acknowledgement of receipt to the applicant,
including the contact details of the designated contact point as referred to in Article 1.’
No
No
6
Initial overview of submitted dossier
Responsible for Implementation
Competent Directorate
Μethod of Implementation
Inspection
Description
The information and documentation submitted is initially examined for completeness.
Notes
A prerequisite is a verification of payment of the required fees in favour of the Hellenic Capital Market Commission.
No
No
7
Letter to the firm seeking authorisation
Responsible for Implementation
Competent Directorate
Μethod of Implementation
Action of the executive / co-competent body
Description
A letter may be sent to the firm seeking authorisation requesting the submission of additional documentation (in case of incomplete information)
No
No
8
Examination of submitted information
Responsible for Implementation
Competent Directorate
Μethod of Implementation
Inspection
Description
The information provided is examined to determine whether the conditions for authorisation, as set out in the regulatory framework, are met.
Notes
Steps 4 and 5 may be repeated if the examination shows that the conditions are not sufficiently met
No
No
9
Recommendation to the Board of Directors
Responsible for Implementation
Competent Directorate
Μethod of Implementation
Signature
Description
The Directorate shall prepare a recommendation for the Board of Directors of the HCMC.
Notes
The recommendation shall be countersigned by the General Director.
No
No
10
Decision of the Board of Directors
Responsible for Implementation
Collective body
Μethod of Implementation
Signature
Description
The Board of Directors shall decide whether or not to grant an authorisation to the AEED.
Notes
This timeframe covers both the time required to include the recommendation on the agenda of the Hellenic Capital Market Commission’s Board of Directors and the time required to finalise the Board’s decision.
No
No
11
Notifying the firm seeking authorisation
Responsible for Implementation
Competent Directorate
Μethod of Implementation
Action of the executive / co-competent body
Description
A letter is written informing the firm seeking authorisation of the decision of the HCMC Board of Directors.
Yes
No
12
Postponement of the decision, with instructions to the competent Directorate to take further action.
Responsible for Implementation
Collective body
Μethod of Implementation
Action of the executive / co-competent body
Description
If the Board of Directors requires additional information in order to reach a decision, it shall postpone the decision and issue specific instructions to the Directorate of Bodies to take further action.
Notes
This timeframe covers both the time required to include the recommendation on the agenda of the Hellenic Capital Market Commission’s Board of Directors and the time required to finalise the Board’s decision or to draft and notify the minutes of the Board of Directors to the Directorate.
Yes
No
13
Further Directorate actions
Responsible for Implementation
Competent Public Agency
Μethod of Implementation
Action of the executive / co-competent body
Description
The Directorate of Bodies shall take the steps indicated by the Board of Directors.
Notes
This timeframe covers both the time required to carry out the actions in accordance with the Board’s instructions and the time needed to evaluate any new information submitted by the firm seeking authorisation.
Yes
No
14
New recommendation to the Board of Directors.
Responsible for Implementation
Competent Directorate
Μethod of Implementation
Signature
Description
After examining the information submitted, the Directorate prepares a new recommendation to the Board of Directors of the HCMC.
Notes
The recommendation shall be countersigned by the General Director.
Yes
No
15
Decision of the Board of Directors.
Μethod of Implementation
Signature
Description
The Board of Directors shall decide whether or not to grant the firm an authorisation to operate as an AEED.
Yes
No
16
Notifying the firm seeking authorisation
Responsible for Implementation
Competent Directorate
Μethod of Implementation
Action of the executive / co-competent body
Description
A letter is written informing the firm seeking authorisation of the decision of the Board of Directors
Yes
No
17
Issuance of press release
Responsible for Implementation
Competent Directorate
Μethod of Implementation
Action of the executive / co-competent body
Description
Following the decision to authorise an AEED, a press release is issued and posted on the HCMC’s website.
No
Yes
Hellenic Capital Market Commission website
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