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FCA spends £1.7m on Pisces private stock market work

City Correspondent

The UK regulator's work developing Pisces has involved spending more than £600,000 on external contractors

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The Financial Conduct Authority has spent almost £1.7m developing a regime for a new type of private stock market that the UK government hopes will boost public listings.

Between December 2023 and July 2025, the City regulator spent £1.66m on work related to the Private Intermittent Securities and Capital Exchange System, the FCA told 

 in response to a Freedom of Information Act request.

City regulator is gearing up for private share trading later this year

Lars Mucklejohn

Finance

Financial Regulation

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