Channel Islands Stock Exchange: restructuring update — 23 December 2013
We now have confirmation that the restructure of the Channel Islands Stock Exchange (CISX) by way of a scheme of arrangement was approved by the Royal Court in Guernsey last Friday.
The scheme of arrangement designates the new Channel Islands Securities Exchange Authority (CISE) as the operator of an investment exchange authorised by the Guernsey Financial Services Commission.
CISE has received the following international recognitions and memberships: designation as a recognised stock exchange by HM Revenue & Customs under section 1005 of the Income Tax Act 2007; recognised stock exchange status by the Australian Securities Exchange; membership of the International Capital Markets Services Association; and affiliate membership of IOSCO…
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Formal, court-driven restructuring proceedings are available into Luxembourg law, but for practical reasons, these are rarely used in practice.
Luxembourg is one of the leading domiciles worldwide for international investment vehicles.