The UK’s HM Revenue & Customs (HMRC) has designated the Gibraltar Stock Exchange (GSX) as a recognised stock exchange under the Income Tax Act 2007 (ITA).
The designation extends to the entire Gibraltar Stock Exchange and is a significant development that allows GSX to expand its services and offering to issuers.
In particular, HMRC recognition extends eligibility to the UK SIPPs and ISAs market for GSX-listed securities.
The decision follows recognition of GSX by ESMA in January 2015 and the Cayman Islands Monetary Authority (CIMA) in March 2015.
Nick Cowan (pictured), managing director of GSX, says: “GSX’s growth, as an EU regulated market, has been built on providing a robust prospectus approval and listing process that is so fast to market, commercially attractive and well-regulated for issuers of debt securities (including corporate bonds, asset-backed securities, insurance linked securities, convertible bonds, and derivative securities) and issuers of shares in funds. Our clients have asked GSX to seek this to have an alternative to the current listing venues for the listing of debt securities and funds and we look forward to further growing the business of the exchange.”