bulletEDITOR'S PICKS

 

Asia could have capital outflows: Aberdeen

From Asia Apr 17 2015 @ 04:04

Asian markets could see capital outflows when the US raises interest rates, according to Hugh...
view article

New Cyprus laws protect offshore homeowners from bank seizure

From Europe Apr 16 2015 @ 17:11

New Cyprus laws to protect offshore homeowners

New laws designed to protect homes from being seized by Cypriot banks are set to be passed in...
view article


bulletRELATED ARTICLES

 

bulletNEWS

 

LATEST NEWS

Asia could have capital outflows: Aberdeen

Asia could have capital outflows: AberdeenAsian markets could see capital outflows when the US raises interest rates,...
view article

Schroders launches flexible catastrophe bond...

From Products Apr 16 2015 @ 17:18

New Cyprus laws protect offshore homeowners...

From Europe Apr 16 2015 @ 17:11

MORE FROM Asia

LATEST NEWS

Australian regulator steps up financial advice probe

Australian regulator steps up financial advice probeAustralia's corporate, markets and financial services regulator said it is...
view article

Asian equities team at OMGI gets Hong Kong...

From Asia Apr 16 2015 @ 13:07

Guernsey removed from Italian tax blacklist

From Tax & Regulation Apr 16 2015 @ 12:30

MORE FROM Tax & Regulation

LATEST NEWS

HK reforms will cause 'collateral damage' – IFAA

Hong Kong's financial advisory industry will suffer “collateral damage...
view article

Geneva convention: Intermediary profile...

From Profiles Apr 16 2015 @ 04:00

British IHT bills likely to average over £...

From United Kingdom Apr 15 2015 @ 17:31

MORE FROM Asia



HMRC recognises new Irish/Maltese exchange

From Europe Feb 6 2013 BY: Helen Burggraf , Contributing Editor , International Adviser

Add to My News Comments (0)

Add to My News Print

Add to My News

add to twitter

add to linkedin


HM Revenue & Customs has announced that it formally recognises as a stock exchange a new joint-venture listing entity unveiled last year by Ireland and Malta.

In a statement on its website, HMRC said that with effect from 18 January 2013, the new European Wholesale Securities Market (EWSM) meets the Revenue’s interpretation of “listed”, and will also be regarded “as a recognised stock exchange for inheritance tax purposes”.

As reported, the EWSM was formed last year by the Irish Stock Exchange, which owns 80% of the joint venture, and the Maltese exchange, which owns the rest. It is being run and regulated out of Malta.

It was created to handle so-called “complex debt listings” which, as explained in a joint announcement last year by the two exchanges, it does by offering issuers and arrangers of wholesale fixed-income debt securities “access to an EU-regulated market…supported by the expertise of a dedicated listing agency service”.

The EWSM is described as having been designed to complement the products currently available to investors from both exchanges.

In addition to creating a new venue for trading products normally exchanged in one-to-one over the counter transactions, the EWSM is seen as potentially bringing new customers to investment specialities that are well established in one of the jurisdictions but not in the other.

Malta and Ireland, which share the distinction of being English-speaking EU jurisdictions, have a history of collaborating on regulatory matters – for example, when Maltese fund managers seek to use administrators based in Ireland, which is a larger and longer-established financial centre.
 

Add to My News Comments (0)

Add to My News Print

Add to My News

add to twitter

add to linkedin


COMMENTS


Have your say

(Be the first to) Have your say!

Please sign in or register here to leave a comment. Registration is free and only takes a few moments.






Share us on Twitter

SHARE US ON TWITTER
Join the community

Join us on Linked In

SHARE ON LINKED IN
Inform your colleagues

Switch to our mobile site

SWITCH TO MOBILE SITE
News on the go

Back tot he top of the page

BACK TO TOP OF PAGE
Just click here...