Channel Islands Stock Exchange relaunches under new name

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Historical concerns about the structure of the Channel Islands Stock Exchange should be left behind in its relaunch, according to its chairman.

In October it closed to new members before partially reopening after an investigation highlighted problems.

The relaunch includes a rebranding and a splitting of the company into two.

John Moulton said by having the regulatory and commercial aspects of the business separated it would avoid future conflicts of interest.

'Unblemished reputation'

The companies will be named as the Channel Islands Securities Exchange and the Channel Islands Securities Exchange Authority.

Mr Moulton said the problems would be "largely left behind".

The Guernsey Financial Services Commission, which was investigating, would not release details of the problems, but it did confirm they were historical and did not relate to its current work.

Mr Moulton said: "We're anxious to leave those problems behind us and to look forward to a company which will have an unblemished reputation and be a great success.

"Although the publicity has certainly been adverse the need for our existence and the things we offer are clearly important to our customers."

The exchange was founded in 1998, had 510 new listings in 2012 and reached a total of 5,000 in April.

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