Thursday 11 January 2018

UK: LSE proposes 'comply or explain' code requirement for AIM companies

Last month, the London Stock Exchange published a feedback statement (including consultation questions) in respect of the AIM rules discussion paper (herepdf) published earlier in the year: see here (pdf). It is the LSE's intention that AIM companies should be subject to a 'comply or explain' requirement in respect of a relevant corporate governance code (to be achieved through amendments to Rule 26 of the AIM rules). This would, subject to the outcome of the consultation, take effect from 30 June 2018. At present, Rule 26 does not require AIM companies to adopt a particular governance code (where no code has been adopted this should be stated and the company's governance arrangements disclosed).

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