Channel Island Stock Exchange reopens to new members

The exchange stopped admitting new members on Tuesday after "defects" were discovered in the way it was set up. The problems were highlighted during an investigation by the Guernsey Financial Services Commission (GFSC), which has been going on for 20 months, according to the BBC. Chairman John Moulton said it related to "historic activities" rather than "current matters". "The CISX has recently made provision for around £500,000 in respect of costs to date and possible regulatory settlements although no liability for such is currently admitted," he said in a statement. The faile...