The International Stock Exchange (TISE), which is headquartered
in Guernsey, has received recognition from the German Federal
Financial Supervisory Authority BaFin (Bundesanstalt für
Finanzdienstleistungsaufsicht).
The recognition means that German funds established under the
European Union's Undertakings for Collective Investment in
Transferable Securities (UCITS) Directive can now invest into
securities listed on TISE.
Fiona Le Poidevin, Chief Executive of TISE, was delighted that
TISE's application to BaFin for recognition had been
successful.
"It is highly significant that the financial services
regulator of German has approved the application at this
time," Mrs Le Poidevin said. "The fact that BaFin is
happy to allow German UCITS funds, which themselves will have
ordinary retail investors, to invest in products listed on TISE is
a huge endorsement of our regulatory standards and adds significant
weight to the credibility of the Exchange.
