Proposals for a new private stock market have been given a new boost today (17 December) as the Financial Conduct Authority has revealed plans to consult with the industry about how to realise the opportunities of the framework.
The Private Intermittent Securities and Capital Exchange System (PISCES) will allow shares in private companies to be bought and sold, a change that is set to "open the door to more opportunities for investors to take stakes in private companies", according to the FCA. The watchdog and the government have deemed PISCES a "world-leading innovation" in private markets, following an increase in the number of years that companies remain under private ownership. Data from Morningstar revealed the median age for a company to go public has increased from almost seven years in 2014 to over ...
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