Close Search

TISE gains recognition from German regulator, BaFin


The International Stock Exchange (TISE) 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, CEO of The International Stock Exchange Group (TISEG), said: “I am delighted that the application to BaFin for TISE recognition has been successful. It is highly significant that the financial services regulator of Germany has approved the application at this time. 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.”

The application to BaFin was supported by the German Investment Funds Association, BVI (Bundesverband Investment und Asset Management).

Mrs Le Poidevin added: “I would like to thank the BVI for their assistance with the application and whose support demonstrates the demand within the German fund community to have a wider set of potential investment opportunities, including securities listed on TISE. At the same time, this recognition also means that issuers seeking to list securities on TISE now have an even wider set of investors who can invest into their products. The German mutual fund market offers a significant pool of potential capital which could be deployed and so this recognition adds markedly to the attraction of a TISE listing.”

TISE has been added to the list of markets approved by BaFin under section 193 of the Capital Investment Act, KAGB (Kapitalanlagegesetzbuch). It details the conditions under which a German UCITS fund management company may acquire securities for the account of a domestic UCITS fund.

Leave a Reply

You must be logged in to post a comment.






Why join the Chamber?

To view or discuss membership and the benefits available to your business:

» Click here to learn more

Your Chamber

The Guernsey Chamber of Commerce acts as a passionate representative voice; encapsulating industry areas that affect us all.

Contact Magazine

Contact is produced six times a year by Collaborate Communications.

Read the latest issue online


The Young Business Group was formed 50 years ago by the Chamber of Commerce.

Click here to learn more

Submit your news

Sign in or sign up to share your news via the Chamber of Commerce member news area.

» Sign in to add your news

Add your event

Sign in or sign up to submit your own events and promote them within the local business community.

» Sign in to add your event

Suite 1
16 Glategny Esplanade
St Peter Port, Guernsey

Get in touch

Telephone: +44 (0) 1481 727483

Subscribe to Newsletter

On signing up to receive regular updates from The Guernsey Chamber of Commerce, you agree to having your data held by us for communication purposes.

Sign Up Sign Up

Connect with Chamber
Facebook Linkedin
The Guernsey Chamber of Commerce is a company limited by guarantee incorporated in Guernsey. Reg No. 37792
Copyright © 2018 Guernsey Chamber of Commerce. / Articles of Incorporation / CSR Policy / Disclaimers