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United Kingdom

UK corporate update: FCA PISCES sandbox, Companies Act 2006 s40 on shareholder registration, partnership/JV fiduciary duties, diary dates and trackers—29 May 2025

Published on: 29 May 2025

Published by a LexisNexis Corporate expert
Legal News
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In this issue:

  • Equity capital markets
  • Members
  • Partnerships
  • Daily and weekly news alerts
  • Dates for your diary
  • Trackers
  • Useful information

Equity capital markets

FCA to publish final PISCES rules and open sandbox applications in June 2025

The Financial Conduct Authority (FCA) has confirmed it will release its definitive rules for Private Intermittent Securities and Capital Exchange Systems (PISCES) in June 2025. At the same time, it will invite applications from prospective platform operators wishing to run a PISCES venue. The regime will be piloted in a sandbox through to June 2030, allowing operators to test different business models for trading shares in private companies. The FCA, together with HM Treasury, will then carefully evaluate the results to decide whether to embed PISCES in lasting legislation or pursue other approaches. See: LNB News 27/05/2025 45.

Members

Registration of shareholders and the power of directors to bind a company (Jusan Technologies Ltd v Uconinvest Llc [2025] EWHC 704 (Ch))

This judgment, stemming from a claim to rectify the register of members of Jusan Technologies Ltd (JTL), raised key issues concerning shareholder registration under a company’s articles of association and the scope of section 40 of the Companies Act 2006 (CA 2006) ...

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