Recognised Stock Exchange
TISE is a “recognised stock exchange” by the United Kingdom’s Her Majesty’s Revenue and Customs pursuant to section 1005 of the Income Tax Act (2007). Shares listed on TISE are therefore “qualifying investments” within an ISA, PEP or SIPP and, as a result, an increasing number of closed-ended funds are listed on TISE.
The tax treatment of Eurobonds is also positively enhanced by TISE’s status as a recognised stock exchange. Interest paid on a qualifying quoted Eurobond does not have to be withheld for UK tax purposes if it is listed on TISE.
MAR and EU Directives
Because the Channel Islands are not subject to the European Union financial services regulatory environment, issuers of certain qualifying securities listed on TISE are not obliged to comply with the European Union Market Abuse Regulation (Regulation 596/2014) and EU Prospectus Directive (2003/71/EC). This can create significant savings in terms of cost and compliance effort.
TISE enjoys the support of a growing number of prestigious local and international organisations. TISE’s recognitions include the German securities regulator, BaFin, and the Australian Securities Exchange.
In December 2013, TISE was approved as an Affiliate Member of the International Organisation of Securities Commissions, it became an Associate Member of the International Capital Market Services Association and it was officially recognised by the Australian Securities Exchange.
Appleby as Listing Member
Appleby Securities (Channel Islands) Limited acts as a sponsor for listing purposes, is a full listing member of TISE and can provide high quality, cost-effective professional services in all aspects of structuring and documenting debt and equity issues, from initial inception to public offerings and listings.
Trusts: Comparison between the Crown Dependencies
Our Private Client and Trusts specialists in Guernsey, Isle of Man and Jersey outline some of the ke...
The Edinburgh Reforms: An Offshore Perspective
On 9 December 2022, the UK Chancellor of the Exchequer announced a package of reforms to the UK fina...
While the basic features of the trust remain, there are some notable differences in how trusts can b...
Regulatory Approach to ESG across the Crown Dependencies
New requirements may require investment products to display a label reflecting their sustainability ...
First published in New Law Journal, July 2021. Appleby partners Anthony William and Jared Dann an...
Material adverse change clauses in light of the Covid-19 pandemic
Experts from each of our key global offices provide jurisdiction specific advice and answer question...
Appleby Celebrates International Women’s Day
International Women’s Day is celebrated annually in support of gender equality and equal participa...
The role of Private Equity in economic recovery from Covid-19
Against this gloomy backdrop, we expect private equity firms and their investors to play a key role ...
Safe havens: Temporary relocation and residency by investment in Appleby’s jurisdictions
In this article, we examine how the digital nomad culture is evolving in our jurisdictions.