bulletEDITOR'S PICKS

 

UAE developer dealt legal blow as it is ordered to repay investors

From Middle East Sep 2 2014 @ 16:48

A legal firm, Judicare Group, has secured a “landmark ruling” in the UAE against a property...
view article

Ashmore unveils trio of China-focused funds

From Products Sep 2 2014 @ 10:17

Ashmore has unveiled three China-focussed funds that aim to invest in China's onshore equity and...
view article


bulletRELATED ARTICLES

 

bulletNEWS

 

LATEST NEWS

UAE developer dealt legal blow as it is ordered to repay investors

UAE developer dealt legal blow as it is ordered to repay investorsA legal firm, Judicare Group, has secured a “landmark ruling” in the UAE against a...
view article

European Wealth snaps up two more Barclays...

From Europe Sep 2 2014 @ 15:33

Ogier opens Hong Kong resolution team

From Asia Sep 2 2014 @ 15:20

MORE FROM Middle East

LATEST NEWS

Sesame most complained about advisory firm

Sesame most complained about advisory firmSesame received more complaints than any other advisory firm over the first half...
view article

Ashmore unveils trio of China-focused funds

From Products Sep 2 2014 @ 10:17

Mirabaud adds to Middle East team

From Middle East Sep 2 2014 @ 09:59

MORE FROM United Kingdom

LATEST NEWS

Invesco Powershares adds Swiss business development role

Invesco Powershares adds Swiss business development roleInvesco Powershares has appointed Giles Boitel as business development director...
view article

Former BNP Paribas wealth head switches to...

From People Sep 1 2014 @ 17:21

Overseas Trust & Pension launches QROPS...

From Products Sep 1 2014 @ 17:13

MORE FROM People



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...