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🇬🇷Greece · EU member

Hellenic Capital Market Commission

HCMC · Securities regulator
Athenswww.hcmc.gr
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FY2025 · as of 31 December 2025Published figures unless marked

Employees159FY2025
Annual budget€11.76Mtotal expenses — FY2025 (own resources; no state funding)
Supervised entities~154authorised firms — FY2025 (approx.; possible dual-licence overlap)Estimate

Overview

The Hellenic Capital Market Commission is Greece's securities regulator, established as a legal person by Law 1969/1991 and organised by Law 2324/1995, with its own resources and no funding from the state budget. It licenses and supervises investment firms, asset managers, mutual funds and financial advisers, oversees listed companies on the Athens Exchange, approves prospectuses and polices market abuse. Law 5193/2025 designated it as Greece's competent authority for crypto-asset service providers, and its Decision 8/1059 of 30 July 2025 set the procedure for filing CASP authorisation applications. Its 2025 annual report records around €1.9 billion of capital raised in the Greek capital market during the year. Everything below is the HCMC's own data, from its Annual Report for 2025.

Regulated sectors

5
Investment firmsAsset managersCrypto-asset service providersSecurities marketsListed companies

Figures as published by Hellenic Capital Market Commission for FY2025. Source: HCMC Annual Report 2025 (Delivered to the Speaker of the Hellenic Parliament on 27 May 2026 (Greek)). Data as of 31 December 2025.

Leadership

3
Vasiliki Lazarakou

Chairsince September 2019

Michail Fekkas

First Vice-Chairsince February 2024

Anastasia Stamou

Second Vice-Chair

Full board

Organisation (FY2025)

Staff
159FY2025
Total expenses
€11.76MFY2025 — HCMC has exclusively its own resources and receives no state budget funding; budget drafted by the Board and submitted to the Minister of Finance for approval
Total revenues
€23.13MFY2025 — up 63% year on year
Authorised firms supervised
~154FY2025 composition — 48 investment firms + 21 investment intermediation firms + 13 UCITS management companies + 15 AIF management companies + 33 AIFMs + 9 REICs + 15 legacy crypto-register providers. Excludes fund products and listed issuers; "approx." — possible dual-licence overlap
Estimate
Sanctions imposed
€2,495,000FY2025
Prospectuses approved
13FY2025; plus 7 supplements; capital raised ~€1.9bn
Board decisions
281 in 34 meetingsFY2025
Investor warnings
40FY2025

Crypto / MiCA

FY2025
MiCA CASPs authorised
3As of August 2026 — BCASH, Xenios Blockchain Group, Capital Wallet Greece; Board decision 1096/22.7.2026. HCMC's own decisions govern; the ESMA register may lag
MiCA competent authority for CASPs
Law 5193/2025 designated the HCMC as CASP competent authority, introduced sanctions for providing services without a licence (Article 107) and investor and whistleblower protection measures (Articles 102 and 114). Decision 8/1059/30.07.2025 set the application procedure.CASPs remain subject to AML/CFT obligations, for which the HCMC has been the supervisor of exchanges and custodian wallet providers since Law 4734/2020

Notable 2025

Own-resources funding
HCMC is funded entirely from its own resources and receives nothing from the state budget; its budget is drafted by its Board and submitted to the Minister of Finance for approval.
Unlicensed-services sanction
Law 5193/2025 created a specific sanction for the professional provision of crypto-asset services without a licence.
Shorter MiCA transitional window
HCMC-registered virtual asset service providers had until 30 December 2025 to file a MiCA application — a shorter window than the EU-wide default of 1 July 2026.
Parliamentary accountability
The Chair reports to the Hellenic Parliament: the annual report is submitted to the Speaker and the President of the HCMC is called before the competent parliamentary committee on capital market matters.

Key legislation

4
Law 1969/1991

Established HCMC as a legal person

Law 2324/1995

HCMC organisation

Law 5193/2025

MiCA implementation — HCMC as CASP competent authority; sanctions for unlicensed services

HCMC Decision 8/1059/30.07.2025

CASP authorisation application procedure

Registers, portals and publications

Public registers

HCMC registers

Application portals

HCMC filing

Recent publications

HCMC Annual Report 20252026-05-27
Data as of 31 December 2025 · Source: www.hcmc.gr + ComplyBridge researchActivity Index methodology →