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LSE discussion paper on AIM rules review - Law Society response

29 September 2017

The London Stock Exchange (LSE) published a discussion paper seeking views on proposed changes to the Alternative Investment Market (AIM) Rules for Companies and AIM Rules for Nominated Advisers (Nomads).

The LSE's proposals relate to areas including:

  • Admission criteria
  • Early clarity for applicants and Nomads in the admission process
  • Consistency of approach across the nominated adviser community in respect of appropriateness considerations

The joint working party of the Company Law Committees of the City of London Law Society (CLLS) and the Law Society of England and Wales has responded to the discussion paper.

It agreed that proposed extension and codification of the existing early notification process would be beneficial, and that it would be helpful to publish a list of non-exhaustive examples of factors to be taken into account by Nomads when assessing appropriateness for AIM.