Securities, Disclosure Requirements, Private Equity

FCA’s final rules for PISCES: London’s new private share trading market

White & Case LLP on 6/13/2025

The Financial Conduct Authority ("FCA") has published its final rules for the Private Intermittent Securities and Capital Exchange System ("PISCES") – London's new private company share trading platform. The proposals are a...more

UK Equity Capital Markets Insights — June 2025

Paul Hastings LLP on 6/5/2025

In this edition of UK Equity Capital Markets Insights, we report on the coming into force of regulations to create the PISCES secondary trading market and the launch of a commission to evaluate the ongoing role of the...more

FCA update on PISCES and pre-application support

A&O Shearman on 4/21/2025

The UK Financial Conduct Authority (FCA) has published an update on the Private Intermittent Securities and Capital Exchange System (PISCES) sandbox, following the consultation in December 2024 (CP24/29). PISCES will be a new...more

The Luxembourg Stock Exchange launches new segment on Euro MTF market EM3S

A&O Shearman on 3/24/2025

The Luxembourg Stock Exchange has announced the launch of a new segment on its Euro MTF market, called EM3S, which stands for Euro MTF Specialist Securities Segment. This new segment may be an interesting option for issuers...more

Delaware Law Alert: Avoiding Ambiguities in M&A Disclosure Schedules

Mayer Brown on 1/9/2025

A notable Delaware Chancery Court opinion offers important insights for M&A deal parties into how courts interpret disclosure schedules. In Aldrich Capital Partners Fund, LP v. Bray, the stock purchase agreement and the...more

Investment Management Update

Ballard Spahr LLP on 10/27/2016

Investment Adviser AXA Wins Excessive Fee Trial - A federal judge in New Jersey has ruled in favor of AXA Equitable Life Insurance Company (AXA Equitable) and its wholly owned subsidiary, AXA Equitable Funds Management...more