Despite some optimism about the innovation offered by the UK’s private stock market initiative, concerns remain over the potential it offers for market abuse on the day the Financial Conduct Authority greenlights its launch.
In a statement today (10 June) on the inauguration of the Private Intermittent Securities and Capital Exchange System (PISCES), the regulator said PISCES meets the demand of companies staying private for longer. Emma Reynolds, economic secretary to the Treasury, welcomed the FCA's regulatory framework, which follows the release of the Treasury's legislative framework last week. "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 m...
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