Companies House: Personal codes for identity verification – Guidance

On 1 September 2025, Companies House published guidance for individuals on how to use and manage the personal code (or unique identifier) that they receive when they verify their identity at Companies House.

The guidance covers the following:

• Where to find the personal code: This depends on whether the individual has used GOV.UK One Login, or an Authorised Corporate Service Provider (ACSP) to verify their identity.

• How to save a personal code to a Companies House account.
•  How to use a personal code if the individual is a director of a company (or equivalent), or a person with significant control in relation to a company (a PSC) or an individual who files documents and other particulars at Companies House on behalf of a company: The guidance makes it clear that when an individual uses their personal code, Companies House may ask them to confirm their date of birth so they can check the details match.
• What to do if the personal details linked to a code do not match the records at Companies House: Again, the guidance makes it clear that individuals should check that their date of birth is correctly recorded at Companies House as if the date of birth on the Companies House records is incorrect, this is one reason why an individual will not be able to connect their verified identity to the Companies House records.
• What to do if an individual thinks their personal code has been shared or compromised: Companies House can change it if requested in these circumstances and issue a new personal code.

(Companies House, How to use and manage the personal code you receive when you verify your identity for Companies House - Guidance, 01.09.2025)

FCA and LSE: Approval of LSE as first PISCES operator

On 26 August 2025, the Financial Conduct Authority (FCA) announced that it has approved the London Stock Exchange (LSE) to operate a PISCES (Private Intermittent Securities and Capital Exchange System) platform which will bring together buyers and sellers of shares in private companies to trade on an intermittent basis.

The PISCES platform will be delivered through a sandbox, which allows the FCA to test the design before finalising a permanent regime in 2030. Trading systems could include periodic auctions, as well as occasional and time-limited periods of continuous trading. Specifically, PISCES uses a financial markets infrastructure (FMI) sandbox.

HM Treasury laid a Statutory Instrument before Parliament in May 2025, which finalised the legislative framework for PISCES. Firms wishing to run a PISCES platform have to apply to the FCA, and once approved are able to run intermittent trading events.

In light of the FCA’s approval, the LSE has published a Stock Exchange Notice, accompanied by its draft rule books for the Private Securities Market the LSE proposes to establish. Comments on the proposed design and specific rules for the Private Securities Market are requested by close of business on 9 September 2025.

The final form of the rules will be published and come into effect upon the launch of the new market.

(FCA, First PISCES operator gets greenlight in drive for growth, 26.08.2025)

(LSE, London Stock Exchange’s new Private Securities Market receives PISCES Approval Notice by the FCA, 26.08.2025)

HM Treasury: Budget Day announced

On 3 September 2025, HM Treasury confirmed that the date of the Budget will be Wednesday 26 November 2025.

(HM Treasury, Budget to address economy that’s “not working well enough for working people”, 03.09.2025)