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SEM Recognitions

 
 

SEM is a member of the World Federation of Exchanges


The attainment of Membership status of the World Federation of Exchanges (WFE) in 2005 constitutes an important milestone that has enabled the SEM to join the league of stock exchanges that are compliant with the stringent standards and market principles established by the WFE. The WFE is a central reference point and standards setter for exchanges and the securities industry in the world. Membership identifies the SEM as having assumed the commitment to prescribed business standards, recognised as such by users of exchanges, as well as by regulators and supervisory bodies.


SEM is designated as a "Recognised Stock Exchange" by the United Kingdom’s Her Majesty’s Revenue And Customs


SEM has been designated by the United Kingdom’s Her Majesty’s Revenue and Customs (HMRC) as a “recognised Stock Exchange” under section 1005 (1) (b) Income Tax Act 2007, with effect from 31 January 2011. As a result of this development, securities admitted to trading and listed on the Official Market of the SEM will meet the HMRC interpretation of “listed” as set out in section 1005 (3) (a) and (3) (b) Income Tax Act 2007. Securities listed on the Development and Enterprise Market (DEM) of the SEM will not meet the HMRC definition of “listed”. Under this designation, SEM will also be regarded as a ‘recognised Stock Exchange’ for Inheritance Tax purposes.


SEM obtained this designation after undergoing a rigorous and in-depth application process to ascertain that the Exchange meets the requirements set out by HMRC in order to be designated as a ‘recognised Stock Exchange’.


SEM is considered an Approved Stock Exchange by the Cayman Islands Monetary Authority


SEM is considered since March 2010, an Approved Stock Exchange by the Cayman Islands Monetary Authority (CIMA), by virtue of its membership of the World Federation of Exchanges for the purposes of CIMA’s Mutual Funds Law, Banks and Trust Companies Law, Insurance Law, Companies Management Law and Securities Investment Business Law.