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
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.’