Guidance for AIM companies and advisers
The London Stock Exchange AIM Regulation team has published the fourth edition of its irregular newsletter, “Inside AIM”. This edition, which can be read here, contains articles on:
- The AIM Regulation team’s approach to investigations and enforcement -
“investigations should not be treated as adversarial but as a means by which the Exchange and nomads can work together…”.
- Interpretation of the “close period” rule -
“given that AIM companies are often more closely held by owners/managers, the Exchange considers that the operation of the close period rule is particularly important”.
- AIM Rule 7 – lock-ins for new businesses -
“given its fundamental importance to the AIM framework, AIM Regulation takes a cautious approach to derogation requests from AIM Rule 7″.
- The Bribery Act 2010 – refers principally to the Ministry of Justice guidance that we covered in this post, but does add some observations on nomads and compliance with the Act by new applicants.
- Chinese companies on AIM – a rather pointed article on conducting due diligence on Chinese companies that has presumably been written in light of the various scandals involving Chinese companies being admitted to junior markets in North America.
- Suspensions relating to AIM Rules 10 and 11 -
“it is fundamental to any public market that all participants have all appropriate and correct information…on a timely basis”.
- AIM Rule 26 website disclosure -
“it is important that [website] information is kept up to date and complies with the Rule on an ongoing basis”.
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