Breaking News
FCA Rings Bell on New Type of Private Stock Market in Growth Boost
A new type of private stock market will be launched later this year after the Financial Conduct Authority (FCA) announced the final rules for its Private Intermittent Securities and Capital Exchange System (PISCES).
PISCES is a new type of platform where shares in private companies can be traded. It will open the door to more opportunities for investors, facilitating their access to growth companies. Private companies can tap into a broader range of investors and asset managers and PISCES offers exits for shareholders to sell up.
As companies choose to stay private for longer, there is demand for investors to trade private company shares easily and efficiently in an organised marketplace. PISCES meets this demand by allowing secondary trading of these shares. Companies can set the floor and ceiling of share prices and have a say over who can buy their shares.
Access to PISCES will be limited to institutional investors, high-net-worth individuals, sophisticated investors and employees of participating companies. Investors will be provided with information about the risks involved to help them make informed decisions.
As set out in the FCA’s letter to the PM outlining the regulator’s approach to support growth, PISCES can unlock capital investment and liquidity.
Simon Walls, executive director of markets at the FCA, said: “This bold design rebalances risk, but it is bold risk taking that made the UK the leading financial centre it is today. The new platforms will give investors greater access and confidence to invest in exciting new companies, while early backers and employees can sell up and invest again.
“PISCES is the latest step in the FCA’s wide-ranging reforms to the UK’s markets to boost growth and competitiveness.”
Emma Reynolds, Economic Secretary to the Treasury, said: “PISCES is a great example of industry, regulators and the government working together to go further and faster on innovative reforms to strengthen UK capital markets, supporting economic growth and putting more money in people’s pocket as part of our Plan for Change.
“I welcome the FCA’s announcement, which follows our legislation and opens PISCES to industry. This also builds on our announcements on a Stamp Taxes on Shares exemption for PISCES transactions, and on employees retaining the tax advantages on eligible shares traded.”
People In This Post
Companies In This Post
- Latin America’s Payments Evolution is Unlocking Digital Commerce for Millions Read more
- Boku Deepens LATAM Commitment, Readies Merchants for Brazil’s Digital Payments Revolution via Pix Read more
- MAPFRE is the Largest Multinational Insurance Company in Latin America Read more
- African Development Bank Group’s Office of Integrity and Anti-Corruption Partners with Special Investigations Unit to Combat Financial Crime Read more
- The 4th Edition of the Africa Fintech Forum to Shape the Future of Finance in Kenya on October 15 Read more
MAPFRE is the Largest Multinational Insurance Company in Latin America
MAPFRE is the leading multinational insurance group operating in Latin America, with $10.932 billion in premiums, $133 million more than the previous year, and a market share of 5.1%.
African Development Bank Group’s Office of Integrity and Anti-Corruption Partners with Special Investigations Unit to Combat Financial Crime
The African Development Bank’s Office of Integrity and Anti-Corruption (PIAC) (www.AfDB.org) and the Special Investigations Unit (SIU) of South Africa have signed a Memorandum of Understanding establishing a framework for cooperation between the two organizations for information sharing and capacity building.
The 4th Edition of the Africa Fintech Forum to Shape the Future of Finance in Kenya on October 15
The 4th edition of the Africa Fintech Forum will take place on 15th October 2025 at the Pullman, Nairobi, Upper Hill, bringing together leaders, innovators, and policymakers from across the African financial technology ecosystem.
Prove Launches Global Identity Graph to Redefine Digital Trust for 90% of Digital Consumers
Prove, the global leader in digital trust, today announced the launch of the Prove Identity Graph, a foundational layer of Prove’s platform that enables enterprises to verify and recognize customers instantly, securely, and globally.
The Most Financially Excluded Pay More To Buy Stablecoins
With Financial Inclusion Week underway, Orbital – a global payment orchestration platform across stablecoins and traditional payment rails – has released its new Stablecoin Premiums Dashboard* which offers insights into stablecoin market data that reveals that the countries with the highest stablecoin premiums are those with populations that, on average, are more financially excluded.
Sumsub Named a Leader in IDC MarketScape for Worldwide Identity Verification in Financial Services 2025
Sumsub, a global verification and anti-fraud leader, today announced it has been named a Leader in the IDC MarketScape: Worldwide Identity Verification in Financial Services 2025 Vendor Assessment (doc # US52985325, September 2025). The report evaluates identity verification providers based on both current capabilities and long-term strategies, assessing how well vendors meet the needs of financial services organizations now and in the years ahead.
GoCardless Achieves Profitability
Bank payment company GoCardless has recorded its first EBITDA positive quarter on an adjusted basis*, operating in the black in the final three months of FY25 (April to June 2025). The result reflects strong cost discipline and a sustained growth trajectory, positioning the company for long-term financial sustainability.
Latin America’s Payments Evolution is Unlocking Digital Commerce for Millions
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Boku Deepens LATAM Commitment, Readies Merchants for Brazil’s Digital Payments Revolution via Pix
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
MAPFRE is the Largest Multinational Insurance Company in Latin America
MAPFRE is the leading multinational insurance group operating in Latin America, with $10.932 billion in premiums, $133 million more than the previous year, and a market share of 5.1%.
African Development Bank Group’s Office of Integrity and Anti-Corruption Partners with Special Investigations Unit to Combat Financial Crime
The African Development Bank’s Office of Integrity and Anti-Corruption (PIAC) (www.AfDB.org) and the Special Investigations Unit (SIU) of South Africa have signed a Memorandum of Understanding establishing a framework for cooperation between the two organizations for information sharing and capacity building.
The 4th Edition of the Africa Fintech Forum to Shape the Future of Finance in Kenya on October 15
The 4th edition of the Africa Fintech Forum will take place on 15th October 2025 at the Pullman, Nairobi, Upper Hill, bringing together leaders, innovators, and policymakers from across the African financial technology ecosystem.
EXCLUSIVE: “Zee Whizz! Adapting to a New Banking Generation” – Joud Zaumot, Mambu and Andrzej Szelemetko, GFT Technologies in ‘The Fintech Magazine’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Banks Embrace Core Banking Modernisation and Speedboat Strategies
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]