AIM recruits to beef up rules

by Nicholas Neveling

15 Jun 2006

  • Comments

AIM, the junior market of the London Stock Exchange, is launching a major recruitment search for accountants as part of its plans to toughen up regulation in the natural resources sector.

The highly successful market has suffered a series of high-profile collapses in the sector, such as Regal Petroleum, led by Frank Timis where claims made about resources, turned out to be completely empty.

The exchange has since consulted on regulating the sector differently and introduced rules in the hope of preventing future market failures.

Speaking at an AIM conference this week, Ray Knowles, manager of regulation at AIM, said the exchange was planning to recruit accountants and other professionals to monitor compliance with the new measures.

'The AIM team has almost doubled over the last 12 months and there is definitely scope to increase the headcount and add to the skills and resources available. We are going to be recruiting lawyers and accountants for this purpose,' Knowles said.

Under the new rules AIM officials will conduct compliance visits to the nominated advisers of these companies. The companies will also have to provide clearer, more detailed disclosures of the value of their assets, and back these with reports from independent competent persons.

The accounting recruits could also find themselves involved in AIM's plans to monitor share trades more closely. The exchange is consulting on a plan that is aimed at cracking down on insider trading.

Visitor comments

blog comments powered by Disqus

Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

  • Send

Charterhouse Accountants

Finance Officer

Charterhouse Accountants, Beaconsfield, Permanent, Full Time, £ Competitive




Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials


Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you



Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.


iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.