Germany’s financial regulator has allowed German Ucits funds to invest in the Guernsey-based market for listed securities, known as The International Stock Exchange (TISE).
TISE made the application to the German Federal Financial Supervisory Authority, BaFin, with the support of the German funds association, BVI.
Over 2,000 listed securities with a market capitalisation in excess of £300 billion (€352 billion) trade on TISE, which is headquartered in Guernsey and has offices in Jersey and the Isle of Man.
Fiona Le Poidevin, CEO of TISE, said the move showed that Germany’s financial authorities recognized the role played by British Crown Dependencies in the flow of capital.
“The fact that BaFin is happy to allow German Ucits funds, which themselves will have ordinary retail investors, to invest into products listed on TISE is a huge endorsement of our regulatory standards and adds significant weight to the credibility of the exchange.
“It also demonstrates that the financial services authorities in Germany recognise the role that the British Crown Dependencies play in the flow of global capital,” said Poidevin.
She added that the permission demonstrated the demand within Germany’s funds industry to have a wider set of potential investment opportunities.
The exchange hosts issuers of various types, including in specialist debt and investment vehicles.
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