CISX Reopens For New Listings

By Editorial 23 October, 2013

The Channel Islands Stock Exchange (CISX) announced on October 18 that it is gradually able to consider new listing applications "with no apparent suitability issues."

The stock exchange temporarily stopped accepting new listings after it revealed on October 15 that an ongoing investigation by the Guernsey Financial Services Commission found "defects in the complex and unusual structure of the CISX."

In its announcement that it would be resuming listing procedures, the stock exchange noted that it is still not processing listing applications for particularly complex or unusual structures at this stage.

Guernsey's Chief Minister of Commerce and Employment responded to the October 18 announcement from CISX, saying "I welcome the statement issued by the Channel Islands Stock Exchange (CISX) today. I spoke with the CISX's Chairman earlier today, and am reassured by the developments that have taken place this week. I know that the CISX is working hard to ensure business has the certainty it needs, and they have the Policy Council's ongoing support in doing that."

Fiona Le Poidevin, Chief Executive of Guernsey Finance, the promotional agency for the Island's finance industry internationally, commented: "We welcome the announcement from the CISX that it is now once again open to considering new listing applications. This not only demonstrates determination to ensure business continuity for the local finance industry and its clients but it is also a positive step towards returning to business as usual."

She added: "It has been a very challenging week for the Channel Islands' investment community and there is still more work ahead but these are very positive developments and ensure that we can continue to service the needs of our client base going forward."

Tags: Finance | Investment | Business | Guernsey | Stock Exchanges | Employment | Expats |


News Archive