On 26 April 2018, the LSE published proposed changes to the AIM Rules for nominated advisers for consultation. The LSE has stated that it will continue to review its supervisory powers in order to promote consistency in standards across the market.
The proposed changes include:
- Amending the eligibility criteria for nomads, e.g. the nomad must have appropriate financial and non-financial resources.
- Increasing the notification obligations of nomads, e.g. notification must be made if the nomad is being investigated by a regulatory body for its conduct.
- A new rule under which the LSE may take action with regard to the nomad's performance, e.g. placing restrictions on the services the nomad may provide.
Comments on the proposals were due by 25 May 2018.
The proposed rule changes can be accessed here:
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