The Financial Services and Markets Act 2023 (Private Intermittent Securities and Capital Exchange System Sandbox) Regulations 2025
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
4 Persons who may apply for approval to operate a PISCES
An application to the FCA under regulation 9 for approval to operate a PISCES may be made by— (a) a recognised investment exchange that is not an overseas investment exchange, or (b) a person who is established in the UK and has a Part 4A permission, as defined in section 55A(5) of FSMA 2000 (application for permission), to carry on one or more of the regulated activities referred to in the following provisions of the RAO— (i) article 25(1) (arranging deals in investments); (ii) article 25D (operating a multilateral trading facility); (iii) article 25DA (operating an organised trading facility).
4 Persons who may apply for approval to operate a PISCES
An application to the FCA under regulation 9 for approval to operate a PISCES may be made by— (a) a recognised investment exchange that is not an overseas investment exchange, or (b) a person who is established in the UK and has a Part 4A permission, as defined in section 55A(5) of FSMA 2000 (application for permission), to carry on one or more of the regulated activities referred to in the following provisions of the RAO— (i) article 25(1) (arranging deals in investments); (ii) article 25D (operating a multilateral trading facility); (iii) article 25DA (operating an organised trading facility).
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
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