The Gibraltar Stock Exchange (GSX) just announced that the Board of the United Kingdom's HM Revenue & Customs (HMRC) have designated the Gibraltar Stock Exchange as a "recognised stock exchange" under section 1005 (1) (a) 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, including BitcoinETI.
The decision follows recognition of GSX by ESMA in January 2016 and the Cayman Islands Monetary Authority (CIMA) in March 2015.
Nick Cowan, Managing Director of GSX said:
"GSX’s growth, as an EU regulated market, has been built on providing a robust prospectus approval and listing process that is 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."
HMRC’s complete list of recognised stock exchanges: