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This means that issuers of securities listed on TISE can rely on the provisions of Regulation S to issue securities outside the United States without the need for them to register with the SEC
On 2 November 2018, the SEC approved Guernsey's The
International Stock Exchange (TISE) as a
"designated offshore securities market," within the
meaning of Rule 902(b) of Regulation S under the Securities Act.
TISE has become an increasingly popular listing venue for debt
securities in particular.
This means that issuers of securities listed on TISE can rely on
the provisions of Regulation S to issue securities outside the
United States without the need for them to register with the SEC
and without the seller having to undertake the onerous diligence to
be able to form a reasonable belief that the buyer is outside the
United States.
This latest recognition is in addition to the TISE's
recognition by the German regulator BaFin, the Australian Stock
Exchange (ASX) and HMRC in the UK.
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