bulletEDITOR'S PICKS

 

FPI’s Van Der Wielen to leave, post Aviva acquisition

From Life Mar 27 2015 @ 10:42

Friends Provident International’s executive chairman John Van Der Wielen is to leave the...
view article

Luxembourg on course to offer REITs in 2015

From Products Mar 26 2015 @ 16:54

Luxembourg on course to offer REITs in 2015

Luxembourg is on track to introduce the regulatory framework to launch Real Estate Investment...
view article


bulletRELATED ARTICLES

 

bulletNEWS

 

LATEST NEWS

Cofunds posts 83% surge in pre-tax profit for 2014

UK investment platform Cofunds has reported an 83% increase in pre-tax...
view article

‘Small cap stocks are being grossly...

From Analysis Mar 27 2015 @ 11:18

FPI’s Van Der Wielen to leave, post...

From Life Mar 27 2015 @ 10:42

MORE FROM Products

LATEST NEWS

FCA to increase adviser fees by 10%

The UK Financial Conduct Authority has outlined plans to increase the adviser...
view article

Luxembourg on course to offer REITs in 2015

From Products Mar 26 2015 @ 16:54

Northstar appoints senior vice president to...

From People Mar 26 2015 @ 14:23

MORE FROM United Kingdom

LATEST NEWS

FCA to make annuity providers rank their products

FCA to make annuity providers rank their productsAnnuity providers in the UK will be required to rank their product against their...
view article

FCA proposes extension of inducement standards

From Tax & Regulation Mar 26 2015 @ 12:14

OMGI hires EM debt head in ongoing fixed income...

From People Mar 26 2015 @ 12:09

MORE FROM Tax & Regulation



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...