On July 12, 2022, a Memorandum of Cooperation was signed between the Hellenic Competition Commission (HCC) and the Hellenic Capital Market Commission (HCMC), by the President of the HCC, Professor Ioannis Lianos and the Chair of the HCMC, D.L. Vassiliki Lazarakou, with the aim to consolidate and enhance cooperation as well as further tighten the links between the two Authorities.
The HCC, in its capacity to safeguard the unimpeded and effective functioning of free competition in accordance with Law 3959/2011, and the HCMC, as the supervisory public authority responsible for protecting investors and ensuring the proper functioning of the Greek capital market, agreed, by virtue of the said Memorandum of Understanding, to establish a bilateral strategic cooperation, in particular consisting in:
- enhancing of their existing cooperation,
- sharing know-how and building on both Authorities’ experience with the aim of benefiting citizens, the economy and the public interest in general, and
- taking comprehensive and effective decisions on the basis of timely and effective cooperation and exchange of information and views in the areas of cooperation between the two Authorities.
Particular emphasis was placed on the setting up of joint working groups for drafting guidelines, studies and surveys on issues of common interest falling within the powers of the two Authorities.
The two Authorities agreed, inter alia, to undertake information actions to promote policies and strategies in order to inform economic operators / stakeholders on matters relating to the responsibilities of both Authorities, for the benefit of society, the economy and the public interest, as well as co-organise seminars and other information activities.
The Chair of the HCMC, referring to the event, stressed that "It is particularly important to strengthen the already established excellent cooperation between the Hellenic Capital Market Commission and the Hellenic Competition Commission, an institution that is of particular importance to the Greek economy, as is the Capital Market Commission, as this cooperation seeks to enhance the surveillance of both authorities in areas of common interest, through which we aspire to achieve the most effective functioning of the Greek market and the economy as a whole”.
The President of the HCC stated the following: "Cooperation like the one forged between the HCC and HCMC creates a public ecosystem for the protection of undistorted competition in the market, which contributes to a more effective consumer and investor protection, promotes effective corporate governance and dissemination of business and investment opportunities for the benefit of society, the economy and sustainable development. The Memorandum of Cooperation signed today between our Authority and the HCMC serves to endorse our already entrenched excellent cooperation with the HCMC in a spirit of mutual respect and mutual assistance, and we expect that our effective cooperation, sharing of know-how and implementation of the actions described will be beneficial for consumers and businesses in many ways.».