Monday March 9 2015

News Source: Global Disclosures

Focus: Shareholder Disclosure Sanctions

Type: General

Country: Greece




The Greek financial regulator, the Hellenic Capital Market Commission, has imposed a number of fines for breach of the Greece major shareholding rules as contained in Law 3556/2007.

The fines were imposed for late notification of a change of holdings.

The fines were:

  • EUR7,000 – Private Financial Holdings Limited
  • EUR4,000 – fine on an individual
  • EUR1,500 – Novo Invest GMBH

Law 3556/2007 requires disclosure on reaching 5% and multiples thereafter within 3 trading days.

Click on the above link for more details (in Greek).