There has been much in the press and online about the Private Intermittent Securities and Capital Exchange System (Pisces) the regulations for which were laid before parliament in early June. Unfortunately, some of what has been said has been wrong or misleading. So here are some common myths about Pisces:

Pisces is a market

No. Pisces is a regulatory sandbox in which those wishing to set up a market can do so in an experimental way for a period of five years. After five years the experiment will either be stopped or tweaked and made permanent. These market platforms will compete with each other for companies to list and for investors in those companies.

You can raise money through Pisces

No. A Pisces regulated........

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