The Non-public Markets Discussion board (PMF), a brand new market-wide initiative, has launched with the intention to assist form the way forward for markets for shares in personal corporations within the UK and act as an “{industry} voice”.

What started as an initiative by JP Jenkins and InfinitX now contains a broad coalition of contributors from throughout the {industry}, together with buying and selling platforms, buy- and sell-side traders and advisers, clearing homes, attorneys and accountants.

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Geoff Towers is chair of the PMF and can be the senior impartial director of PIMFA, which is the commerce physique for monetary planning and wealth administration. 

He has greater than 35 years of wealth administration and funding companies expertise, together with management roles at Citibank, Authorized & Basic and Barclays Worldwide Funds Group, and most lately served as chief govt of BNY’s Pershing enterprise in UK and Europe for six years.

In a press assertion, PMF mentioned it intends to be “an {industry} voice” and never that of a single get together.

“PMF’s collaborative model helps establish the challenges, alternatives and solutions in rising liquidity for personal securities,” PMF mentioned. 

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Up to now, the Discussion board has held 4 conferences and has been involved with the Monetary Conduct Authority and HM Treasury.

“With quick progress corporations excessive on the federal government’s agenda, higher liquidity is a key device in rising their capacity to boost capital, to offer early backers with extra exit choices and to assist traders create balanced portfolios. PMF is all about higher liquidity, which can assist ship towards these wants,” the Discussion board mentioned in an announcement.

“PMF’s broad spectrum of market contributors implies that it may possibly and can help regulators and coverage makers with industry-wide enter and dialogue on finest apply, regulation similar to PISCES and delivering on the expansion agenda.”

The Discussion board added that it goals to make sure that UK personal markets “evolve with clear optimistic financial impression for corporations, traders and the UK as complete”.

Among the many founding members of PMF are Edwin Richards, a company solicitor with JMW Solicitors, Andrew Foster, founding father of InfinitX and director of JP Jenkins, and Andrew Stancliffe, head of execution companies at Winterflood Securities.

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