The government has established the Private Intermittent Securities and Capital Exchange System Sandbox (PISCES) today (15 May) to "boost the growth companies of the future" and uphold the country's initial public offering (IPO) pipeline.
Stock markets can launch their PISCES platforms soon with shares predicted to be traded from the autumn. The government confirmed that employees who have share options will be able to exercise them on PICSES for tax advantage purposes. Economic secretary to the Treasury Emma Reynolds said: "Getting PISCES up and running will support UK growth companies. This will boost our capital markets and help to grow our economy, putting more money in working people's pockets as part of our Plan for Change." Simon Walls, executive director of markets at the Financial Conduct Authority (FCA), a...
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