Recognised Investment Exchanges and the Commission's Position in Respect of the United Kingdom

Summary

This is a short interpretive notice in which the Guernsee Financial Services Commission confirms how the term recognised investment exchange should be understood in relation to United Kingdom exchanges. It clarifies the position under specific provisions of Guernsey law rather than creating new rules.

• Confirmation: An investment exchange situated in, and recognised as an investment exchange under, United Kingdom law is treated as a recognised investment exchange for Guernsey regulatory purposes.
• Provisions covered: This applies for the purposes of Section 4(b) of Schedule 3 to the Protection of Investors (Bailiwick of Guernsey) Law 2020, Rule 3.1(3)(f) of the Licensees (Conduct of Business) Rules 2021, and Section 316(3) of the Companies (Guernsey) Law 2008.
• Legal basis: The confirmation is issued 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 notice is clarificatory in nature and does not itself impose new filing, reporting or conduct obligations; it simply confirms how existing statutory references to recognised investment exchanges should be applied where the exchange in question is UK based.

Applies to

licensees under the Protection of Investors (Bailiwick of Guernsey) Law 2020, investment exchanges, companies subject to the Companies (Guernsey) Law 2008