Proposed by the former chancellor Jeremy Hunt in March's Spring Budget, the scheme would seek to create a world-first regulated market for trading private company shares, with transfers set to be exempt from stamp duty taxes on stocks. The previous government's vision for PISCES included a blend of features of public markets, including multilateral trading, and aspects of private markets, such as greater discretion on which company disclosures should be made public. As such, the system is designed to facilitate access to capital and improved liquidity for early-stage private companie...
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