NEWSFLASH - PISCES Consultation Response Published

PLUS Draft Legislation Published

Author

Damian Carnell
November 18, 2024

News Flash

Last Friday 15th November, the government published their response to the PISCES consultation of earlier this year.

Private Intermittent Securities and Capital Exchange System (PISCES): Consultation

This consultation sets out the government’s proposal for a new innovative market that will allow private companies to scale and grow, and will boost the pipeline of future IPOs in the UK.

www.gov.uk/government/consultations/private-intermittent-securities-and-capital-exchange-systems-pisces-consultation

They have also published for technical feedback the draft legislation that illustrates how the Government intends to deliver the PISCES regulatory regime. Alongside FCA rules, the legislation, when finalised, will establish the PISCES Sandbox and set the regulatory requirements for PISCES. Send your feedback on this to [email protected] by 9 January 2025. 

Financial_Services_and_Markets_Act_2023__Private_Intermittent_Securities_and_Capital_Exchange_Sys.pdf469.15 KB • PDF File

The Chancellor confirmed the aim to pass legislation enacting PISCES by May 2025.

This also builds on the Chancellor’s announcement at the Autumn Budget 2024 that PISCES transactions will be exempt from Stamp Duty and Stamp Duty Reserve Tax to support the attractiveness of PISCES.

Are you ready for PISCES?

Email us at [email protected] to arrange a meeting with Damian or to provide your thoughts.

CORGRO will gladly assist if you have questions or issues arising from this development. We would be happy to hear from you.

CORPGRO Helps Companies With:

Please feel free to email or call:

Damian Carnell - [email protected] +44 (0) 7989 337118

VA Bec Bostock - [email protected]

Please share this CORPGRO information with your board or your colleagues.