Regulatory Alerts2022-07-25
Recognised Investment Exchanges and the Commission’s Position in Respect of the United Kingdom
The Commission confirms that investment exchanges recognised under United Kingdom law automatically qualify as recognised investment exchanges for designated Guernsey regulatory purposes. This alignment satisfies compliance requirements under the Protection of Investors (Bailiwick of Guernsey) Law 2020, the Licensees (Conduct of Business) Rules 2021, and the Companies (Guernsey) Law 2008. Consequently, regulated entities may treat UK-recognised exchanges as fully compliant without pursuing separate local recognition.
Recognised Investment Exchanges and the Commission’s position in respect of the United Kingdom Pursuant to sub-section (c) of the definition of “recognised investment exchange” at Section 79 (1) of the Protection of Investors (Bailiwick of Guernsey) Law, 2020, the Commission confirms that, for the purposes of: Section 4 (b) of Schedule 3 to The Protection of Investors (Bailiwick of Guernsey) Law, 2020; 3.1(3)(f) of The Licensees (Conduct of Business) Rules, 2021; and Section 316. (3) of The Companies (Guernsey) Law, 2008 an investment exchange which is situate in, and is recognised as an investment exchange within the meaning of the law relating to investment exchanges of the United Kingdom, is a recognised investment exchange.