As new regulations affecting stock market listings in the EU involve increased compliance work and a greater administrative burden, the Cayman Islands Stock Exchange (CSX) has highlighted its streamlined process, while halving the costs for debt listing transfers.
The new EU Regime, encompassing the EU Market Abuse Regime Regulation and the EU Directive on Criminal Sanctions for Market Abuse came into force on 3 July 2016. This requires issuers to comply with additional disclosure requirements, including insider lists and reports of transactions involving persons discharging management responsibilities.
The new EU Regime does not apply to listings on CSX, which has invited issuers concerned about the new obligations to consider transferring their EU listing, which it can complete in five working days. As an incentive, CSX has reduced its fees for a standalone debt issue transfer by 50% to US$1,250, with similar reductions for programme and series transfers.