Leon Depolas Securities S.A.
Investor's Guide Print E-mail

This guide is addressed to the investor who has invested or plans to invest in financial instruments. It explains the basic principles of the new institutional framework for markets in financial instruments and how this affects the investor who deals with companies providing investment services in Europe.

The investor may hold one or more bank accounts, investment accounts, mortgages, credit cards, retirement plans, mutual fund etc.

The Law 3606/2007 applies only for the following financial instruments: stocks, bonds, derivatives and mutual funds.

The Law 3606/2007 is also valid for deposits, loans and insurance products. For financial instruments covered by Law 3606/2007, investment companies can provide services such as portfolio management for, investment advice, and transactions in financial instruments on behalf of the investor.

One of the main purposes of the Act is to harmonize the protection framework of investors across Europe. The degree of investor΄s protection is directly related to the degree of their confidence in the investment company and their relevant knowledge and experience. For example, if the knowledge and experience in financial markets of a private investor is not sufficient and the company is required to advise him or make decisions on discretionary basis then he should be given the highest degree of protection.

The Law 3606/2007 imposes three general principles applicable to investment companies when dealing with customers. Investment company must:

* Act honestly, fairly and professionally to ensure the interests of the investor in oder to protect him, because the company as a market professional has a strong advantage.

* Provide adequate and understandable information that is accurate, clear and not misleading. This information helps investors understand the financial tools and services, so that they can take decisions being well informed and ensuring that they do not receive biased or confusing information.

* Provide investment services that have taken into account the individual characteristics and needs of each investor. This ensures that investments meet the client's investment profile and requirements.

Investor’s guide guide illustrates the various steps of an investment transaction and how investment companies must organize and carry out their transactions with investors on a daily basis. Principles of Law 3606/2007 must be applied to every step of the established relationship between the company and the investor.

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