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Securities Regulation Secondary Markets Investors

Orrick, Herrington & Sutcliffe LLP

PISCES: Sandbox

RECAP Private Intermittent Securities and Capital Exchange System (PISCES) Regulations (SI 2025/583) are now in force. PISCES is not a stock market; it is a regulatory sandbox for those market participants who want to set up...more

Orrick, Herrington & Sutcliffe LLP

PISCES: Hook, Line and Secondary Market

The Financial Conduct Authority (FCA) is aiming to bridge private and public markets with the Private Intermittent Securities and Capital Exchange System (PISCES). Only shares in unlisted UK-incorporated companies will be...more

Ropes & Gray LLP

Another Step towards True Retail Access to Private Equity: Secondaries Market Perspective

Ropes & Gray LLP on

Many secondaries players began 2025 with the anticipation that the new presidential administration might further liberalize rules around access to private equity markets. SEC Chairman Paul S. Atkins and Division of Investment...more

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