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Director Declarations Update: Non-retail Debt Issuers

Insight 8 February 2021

Director Declarations Update: Non-retail Debt Issuers

To further simplify the listing process and the ongoing oversight of Issuers listed on The International Stock Exchange (“TISE”), the TISE Authority has removed the requirement to submit a Director Declaration for issuers of non-retail debt securities as part of the listing application process and any new appointments which occur thereafter.

This revision will further reduce the administrative burden imposed on applicants during the initial submission process and will also simplify their continuing listing obligations.

Declarations by directors will now be needed only for equity listings (including investment funds and REITs) and retail debt securities listings.

Sanne’s view

At Sanne, we recognise the continued growth opportunities which exist for TISE and we support this growth by recommending TISE as a listing authority to our clients on the basis of its competitive pricing model and its premier location in the Channel Islands which offers access to Europe and the UK, whilst being outside of the European Union.

We welcome this change in the requirements for Non-Retail Debt Issuers and feel it provides further evidence of the TISE Authorities taking a pragmatic approach whilst still maintaining globally recognised standards of governance.

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