Ever wondered how regulations protect investors or how to start trading in the stock market?
See the answers to some frequently asked questions.
On November 1, 2007, the regulatory framework, which concerns investment services / activities related to financial instruments and which was established by European Directive 2004/39 / EC (MiFID), as incorporated into Greek law by Law n. 3606/2007.
The purpose of the regulations is to establish rules for the protection of investors. According to these rules, investment service companies are obliged, among other things, to categorize their clients based on criteria set by law, to provide general information to their clients on specific issues defined by law and to inform them, where required, regarding the execution policy following orders.
Of course we need to be informed. An Application for Change of Data that will be addressed to the Greek Stock Exchanges must be completed and considered by KEP or the Police. You must also provide us with the necessary certification documents. For example, for the change of identity, the photocopy of your police ID.
Within the framework of the principles of market operation and relevant legislation, we are obliged to receive from you, documents certifying the following information:
1) Identity data
2) Present home address
3) Current profession and current professional address
4) Tax registration number
The documents that can, according to the Legislative Framework, certify the mentioned elements and you must provide us with are the following:
1) A photocopy of your identity card or passport in force or a photocopy of the identity card of those serving in the Security Forces and the Armed Forces.
2) Copy of the Clearance Note of the Financial Tax Office or VAT return certificate from your Tax Office
3) Proof of current residence address:
a) Recent account of a Public Benefit Organization or
b) Lease Agreement submitted to the Financial Tax Office
4) Proof of the profession and current office:
c) Certificate Employer or
d) Copy of last salary or
e) Statement of commencement of work or
f) Professional identity or
g) Document of the Insurance Institution
5) Photocopy of the first page of the bank book showing the account number and the beneficiaries. If there are co-beneficiaries in the account, all the above documents must be submitted for each co-beneficiary.
All of the above are common to all investors and apply to all our services. In case you wish to authorize another person to carry out transactions on your behalf, the above documents are also necessary for the authorized person in full and must be a person with A ‘degree of kinship. If you provide us with all the above, we provide you with the service contracts, so that you can validate them with a genuine signature from KEP or the Police or digitally through gov.gr and the next working day your investment account will be ready.
All members of the joint investor account must have an individual investment account in our company.
The members of the joint investor must have a joint bank account according to the persons who make it up.
The necessary supporting documents are the same as those required for the investment accounts, such as a recent settlement note, a photocopy of the ID card, a certificate of employment, a home utilities bill and the joint bank account.
According to the circular of the Hellenic Capital Market Commission, it is recommended to avoid providing credit and conducting derivative transactions on behalf of a client whose security portfolio includes securities registered in Joined SAT. Therefore the joint investment accounts is only for shares traded on the ATHEX. or in International Markets and not for other investment products. The joined investment account. cannot have a Margin contract and a Two-Day short-term credit agreement (T+2).
You will need to complete a Bank Account Change Form and provide us with your ID and new bank account. In case you are the first beneficiary in the account, a simple signature on the form is required. However, in case you are not the first beneficiary in the account, your form must be considered the original of your signature by KEP or the Police. And finally, in case you have changed your identity and you have not done the relevant change procedure, an Application for Change of Data must be completed and considered by the KEP or the Police, which will be addressed to the Greek Stock Exchanges. You must also provide us with the necessary certification documents. For example, for the change of identity, the photocopy of your police ID.
In the Margin account, according to international practice, the client agrees to pay a certain percentage of the value of the shares he buys, while the brokerage company lends him the difference. The investor has the opportunity to borrow amounts with which he buys securities of higher value than those that his available capital would allow him by paying the borrowing interest every quarter. With this capability and provided that he has relevant stock market experience, reasonable goals, discipline and self-control, it is possible to achieve multiples of returns that he would possibly achieve by investing only his disposable income of its investments. Leverage achieves the ability to increase performance without requiring a capital increase, but the possibility of losing more capital than has been invested is not ruled out. The purchase of shares with the provision of credit is not appropriate in periods of declining stock exchanges, because then the results for the investor will be many times negative for him. On the contrary, the adoption of the stock market technique with the provision of credit, in periods of upward trend of the stock exchanges and especially when there are indications for the continuation of this good course, offers opportunities to achieve multiple profits. The credit limit is set per customer depending on their initial portfolio and its quality
You should do the same for a new customer who wants to sign our new contracts. Within the framework of the operating principles and criteria for the fight against money laundering resulting from criminal activities (in accordance with the provisions of PDTE 2577 / 09.03.2006, Decisions 231 / 13.10.06 and 242 / 04.05.07 of the EPTH as well as Laws 2331 / 95 and 3424 / 13.12.05) we are obliged to receive from you, including documents certifying the following information: • Identity data • Present address of residence • Current profession and current professional address • Tax registration number The documents that can, according to with the above Legislative Framework, to certify the mentioned elements are the following. Specifically, you must provide us with: – a photocopy of your identity card or passport in force or a photocopy of the identity card of those serving in the Security Forces and in the armed forces. -Copy of the Clearance Note of the Financial Tax Office or a certificate of VAT return from Oikon. Proof of current residence address: • Recent Public Benefit Organization account or • Lease Agreement lodged with the Tax Office – Proof of profession and current occupation: • Certificate of Employer or • Copy of last salary • Salary or • Professional identity card or • Insurance Institution Document – Photocopy of the first page of the bank booklet showing the account number and the beneficiaries. • If there are co-beneficiaries in the account, all the above documents must be submitted for each co-beneficiary. All of the above are common to all investors and apply to all our services. In case you wish to authorize another person to carry out transactions on your behalf the above documents are also required for the person authorized in full and should be a person with A ‘degree of kinship. If you provide us with all the above, we provide you with the service contracts, so that you can validate them with the original signature of KEP or the Police and at the same time your code is ready.