The Channel Islands Securities Exchange (CISE) has revised its membership rules so that firms from a wider range of jurisdictions can act as sponsors to listings on the Exchange.
The membership rules previously restricted sponsors to being entities established in the Channel Islands. Now they have been updated to allow sponsors to be based in any jurisdiction deemed acceptable to the Exchange.
The change is effective from 10 October 2016 and reflects the rules which are already in place for members who trade on the Exchange.
CISE Chief Executive Fiona Le Poidevin said:
This is a major step forward in helping us develop a global offering. The Exchange is rooted in the Channel Islands and our members have done a fantastic job of helping us build up the business. They are playing their part in our continued growth in new listings, especially for investment vehicles and specialist debt.
She said that there had already been significant interest from firms based outside the Channel Islands in becoming sponsors and she expects the first application from a non-Channel Island firm to be approved in the coming weeks.