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21 March, 2000
The number of retail investors in the Greek stock market exceeds one million, or 10 percent of the country's population, the Capital Markets' Committee said in a report on Monday.
In its 1999 report, the Greek regulatory authority said that the capital market was not a place of gambling nor guaranteed easy money to investors.
The committee said its regulatory checks were constant last year regarding the use of capital raised through initial public offerings or share capital increases during the year.
The committee checked several hundred securities firms, listed companies and mutual fund companies in 1999. It also analyzed data for 42 share prices on suspicion of share manipulation, or use of confidential information and imposed sanctions worth 1.07 billion drachmas.
The regulatory authority revoked the licenses in one securities firm and four order intermediaries firms while it ordered the suspension of nine order intermediaries firms last year.
The Capital Markets' Committee implemented measures to boost transparency, improve the market's function and to better inform retail investors on investment risks in the bourse.
In 1999, the committee approved the operation of 11 new securities firms, 22 mutual funds' companies, and three investment funds. It also approved 18 initial public offerings in the main market, 31 IPOs in the parallel market for smaller capitalization stocks and the transfer of two companies from the parallel market to the main market.
Source: Athens News Agency