Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Last chance for the London Stock Exchange to save the credibility of AIM ref. New World Oil & Gas

By Ben Turney

8 July 2015 04:08

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The New World Oil & Gas (NEW) forward selling fiasco has been a disaster for the credibility of AIM. So far, every single safeguard that is meant to be in place to protect private investors has failed. Predatory regulated City firms are on the cusp of making millions of pounds of profit from the chaos they have caused, while hundreds of private investors stand to suffer unacceptable and unjust losses. Had the authorities been doing their jobs properly in the first place none of this would have happened, but such is the paucity of regulatory oversight on AIM that the conditions have been primed for this shambolic situation for a long time. Nevertheless, the London Stock Exchange has one last chance to prove itself deserving of its licence for self-regulation of “the world’s most successful growth market”.

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Comments

DUCK AND DIVE

8 July 2015, 04:58

Hear, hear.
wildrides

8 July 2015, 06:06

Respect to you Ben for the work you have put into grasping a deep understanding of the Micro detail of the regulatory environment surrounding these events . It cant have been easy . I for one hope that you manage to bring the conclusions stated above to the attention of all the various partcipants of the debarcle and some action results to improve market behavour on AIM . This year AIM has plumbed new depths of corruption . I am seriously considering ceasing to trade AIM altogether and concentrating on other better regulated and behaved markets . It ceases to be enjoyable when you end the day feeling like you have contributed to the continued mass exploitation of the honest share holders just by participating in trading AIM listed shares . The China companies did it for me . Although I did not trade or hold a single one , just seeing Tom and the other bears unravel just about every single one as a worthless fraud whilst LSE relentless tried to recruit more of them sickened me to my stomach . People lost life savings on those worthless shite . I cant condone Aim continuing to let them on board with no proper due diligence carried out what so ever . The French man in charge needs to resign . Its appalling. LSE is shameful.