Updated rules for Special Purpose Acquisition Companies will help Guernsey to benefit from its "huge amounts of experience in supporting listed vehicles and acquisition activity".
James Tracey, Managing Director of JTC in Guernsey, made the comments in relation to the new updated rules announced by the The International Stock Exchange regarding SPACs.
“These revised rules follow hot on the heels of recent announcements from the European Securities and Markets Authority (ESMA) in the EU and the Financial Conduct Authority (FCA) in the UK in response to a sustained lively SPACs market over 2020 and into the first half of 2021 and designed to focus activity on quality listings.
“The Channel Islands have huge amounts of experience in supporting listed vehicles and acquisition activity through specialist vehicles and SPACs have been part of the corporate landscape in the islands since 2015.
"In revising its listing rules to clarify certain disclosure and structuring requirements, TISE is undoubtedly aligning itself with market trends in targeting high quality, institutional investor-led SPAC activity.”
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