BusinessCompany NewsLSE panned for shielding fined AIM companies

LSE panned for shielding fined AIM companies

Exchange watchdogs criticised for not disclosing the identities of four companies hit with collective penalties of £170,000 after misleading investors

The London Stock Exchange has come under fire for keeping the names of four
companies fined a total of £170,000 secret.

LSE watchdogs hit the companies with penalties for a number of rule breaches
including making misleading statements, but drew the line at naming them.

The LSE has said that companies are only given a public censure in the ‘most
serious cases’,
the
Daily Telegraph
said.

However, last month the LSE issued a public censure of Meridian Petroleum and
hit the company with a £75,000 fine for similar offences to those committed by
the unidentified companies.

‘Keeping this confidential seems ridiculous to me,’ said Roger Lawson, a
spokesman for the UK Shareholders Association. ‘It’s toothless and a prime
example of the LSE’s failure to properly regulate the market.’

Further reading:

AIM
company hit with £75k reporting fine

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