By Tom Winnifrith | Saturday 10 July 2021
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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.
On Thursday 8 July 2021, the London Stock Exchange published its Disciplinary action against Jub Capital Management LLP. Investegate |Stock Exch Notice Announcements | Stock Exch Notice: N16/21 – Disciplinary action against a member firm. Within the text was the statement that “No fine is to be imposed, taking into account the firm’s financial condition, but in other circumstances the Exchange would have sought a fine of £300,000.” It is hard for outsiders to assess LLP’s financial position because its accounts for the year ended 31 March 2020 are overdue but presumably it would be unable to pay the fine given the loss of its status as a member of the London Stock Exchange.
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