A NOTEPAD ON COMPANY AND FINANCIAL LAW, NEWS AND REGULATION
HM Treasury has today published its promised consultation on making AIM company shares eligible for ISAs. The effect of the proposed changes is that High Growth Segment company shares, when and if there are any, will also be eligible for ISAs.
The Treasury press release is here and the consultation document is here.
The key proposed change (see paragraph 3.3 of the consultation document) is that:
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Sefton Resources, Inc. statement of 25 February 2013:
“Legal proceedings have been issued against Tom Winnifrith and Daniel Levi (Broker Man Daniel) for libel in the Queen’s Bench Division of the High Court of Justice.
· Complaints have been made against Tom Winnifrith and Daniel Levi to the Financial Services Authority (FSA) regarding apparent breaches of the Financial Services and Markets Act 2000.
· US counsel has been engaged to review comparable actions with US courts and regulatory authorities.
Jim Ellerton, Chairman of the Board said:
“Sefton is accelerating the development of its oil and gas operations both in California and Kansas to create shareholder value. Sefton is not against free speech and people expressing their opinions in the press or on the internet; however, when boundaries of common decency are breached the Company will vigorously pursue anyone and the vehicles they utilize, that seek to illegally damage Sefton.”"
The London Stock Exchange’s AIM team has published issue 5 of its “Inside AIM” newsletter, covering:
“Inside AIM” is the AIM team’s “guidance to the AIM adviser community, in particular the nominated advisers, on key technical matters on which we receive regular requests for clarification or explanation on the application of the AIM Rules”. Previous issues can be found here.
The London Stock Exchange has produced a new guide to “Corporate Governance for Main Market and AIM Companies”, which can be read here. Written by a number of law firms and financial and other advisers, it is a comprehensive overview, if not particularly detailed discussion, of the subject and associated areas such as:
• Corporate governance in an EU context
• Requirements for non-UK companies listing in London
• Inside information
• The Bribery Act 2000
• Managing directors’ conflicts
• The independent adviser’s role
• Financial communications and investor strategies
• Protection for directors and their companies.
See also: Corporate governance
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