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To ask His Majesty's Government what assessment they have made of the launch of the London Stock Exchange's private securities market under the private intermittent securities and capital exchange system framework; and what assessment they have made of the impact of that market on UK capital formation for high-growth technology businesses.

Asked by
Lord Taylor of Warwick (Non-affiliated)
Answering body
Treasury
Type
Written questions
Status
Answered
Date
12 March 2026
Reference
HL14966
House
House of Lords

To ask His Majesty's Government whether they plan to limit the period of the Private Intermittent Securities and Capital Exchange System Sandbox to less than five years.

Asked by
Lord Elliott of Mickle Fell (Conservative)
Answering body
Treasury
Type
Written questions
Status
Answered
Date
26 February 2026
Reference
HL14578
House
House of Lords

The government is committed to engaging with interested groups when developing and legislating tax policy, and we are today publishing draft legislation ahead of potential inclusion in the next Finance Bill.

This will allow for technical consultation on the application of tax policy in legislation and provides taxpayers with greater predictability...

Member
James Murray (Labour)
Department
Treasury
Type
Written statements
Date
21 July 2025
Reference
HCWS875
House
House of Commons

My honourable friend the Exchequer Secretary to the Treasury (James Murray), has today made the following Written Ministerial Statement.

The government is committed to engaging with interested groups when developing and legislating tax policy, and we are today publishing draft legislation ahead of potential inclusion in the next Finance Bill.

This will...

Member
Lord Livermore (Labour)
Department
Treasury
Type
Written statements
Date
21 July 2025
Reference
HLWS874
House
House of Lords

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the introduction of the Private Intermittent Securities and Capital Exchange System on economic growth; and when the regulatory framework for that system will be finalised.

Asked by
Blake Stephenson (Conservative)
Answering body
Treasury
Type
Written questions
Status
Answered
Date
12 June 2025
Reference
57791
House
House of Commons

To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the introduction of the Private Intermittent Securities and Capital Exchange System on SME listings on UK capital markets.

Asked by
Callum Anderson (Labour)
Answering body
Treasury
Type
Written questions
Status
Answered
Date
9 June 2025
Reference
55722
House
House of Commons

Today, the Government has laid The Financial Services and Markets Act 2023 (Private Intermittent Securities and Capital Exchange System Sandbox) Regulations 2025 (SI 2025/583). This legislation establishes the legal framework for the Private Intermittent Securities and Capital Exchange System (PISCES), a new type of stock market, which will facilitate the...

Member
James Murray (Labour)
Department
Treasury
Type
Written statements
Date
15 May 2025
Reference
HCWS639
House
House of Commons

My honourable friend the Exchequer Secretary to the Treasury (James Murray) has today made the following Written Ministerial Statement.

Today, the Government has laid The Financial Services and Markets Act 2023 (Private Intermittent Securities and Capital Exchange System Sandbox) Regulations 2025 (SI 2025/583). This legislation establishes the legal framework for the...

Member
Lord Livermore (Labour)
Department
Treasury
Type
Written statements
Date
15 May 2025
Reference
HLWS643
House
House of Lords

To ask the Chancellor of the Exchequer, when her Department plans to lay the Statutory Instrument for the introduction of the PISCES Sandbox.

Asked by
Mark Garnier (Conservative)
Answering body
Treasury
Type
Written questions
Status
Answered
Date
6 March 2025
Reference
34605
House
House of Commons

My Lords, these regulations will add four pieces of legislation, known as “enactments”, to the list set out in Section 17(3) of the Financial Services and Markets Act 2023, so that those enactments can be temporarily modified as part of the financial market infrastructure sandboxes.

A financial market infrastructure sandbox is...

Member
Lord Livermore (Labour)
Type
Proceeding contributions
Date
2 December 2024
Reference
841 cc315-7GC
House
House of Lords

My Lords, the more times I read this statutory instrument—even after writing myself a cheat sheet on its alphabet soup of acronyms—the more I realise that I lack the expertise in the digital financial services and crypto space to really understand what is happening, the context and the implications. However,...

Member
Baroness Kramer (Liberal Democrat)
Type
Proceeding contributions
Date
2 December 2024
Reference
841 cc317-8GC
House
House of Lords

My Lords, it is a privilege to address the Committee on the Financial Services and Markets Act 2023 (Addition of Relevant Enactments) Regulations 2024. These regulations serve to bring various legislation under the remit of the financial market infrastructure—FMI—sandbox. The sandbox regime is an important part of the Financial Services...

Member
Lord Altrincham (Conservative)
Type
Proceeding contributions
Date
2 December 2024
Reference
841 cc318-9GC
House
House of Lords

My Lords, I am extremely grateful to the noble Baroness, Lady Kramer, and the noble Lord, Lord Altrincham, for their contributions and their support for this measure. The noble Baroness spoke about its complexity and the alphabet soup. I have huge sympathy for that perspective, I must say; as such,...

Member
Lord Livermore (Labour)
Type
Proceeding contributions
Date
2 December 2024
Reference
841 cc319-320GC
House
House of Lords

Lords motion to consider. Agreed to on question.

Lead member
Lord Livermore
Answering member
Lord Altrincham
Department
Treasury
Type
Debates on delegated legislation
Date
2 December 2024
Reference
841 cc315-320GC
House
House of Lords