The D&O Diary

The D&O Diary

A PERIODIC JOURNAL CONTAINING ITEMS OF INTEREST FROM THE WORLD OF DIRECTORS & OFFICERS LIABILITY, WITH OCCASIONAL COMMENTARY

Category Archives: AIM

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AIM’s Success and U.S. Capital Market Competitiveness

Posted in AIM
As I have noted in prior posts (most recently here), the several blue-ribbon panels that have recently examined the competitiveness of the U.S. financial markets have been particularly concerned with the apparent loss of company listings to overseas exchanges, particularly the London Stock Exchange’s Alternative Investment Market (AIM). These would-be reformers have cited AIM’s success … Continue Reading

IPOs, U.S. Companies and AIM

Posted in AIM, IPOs
In a July 18, 2007 publication entiled "IPO Executive Insights 2007" (here) the Nixon Peabody law firm published the results of its survey of 100 chief executive officers and chief financial officers whose companies conducted initial public offerings in the past three years. The report contains a number of interesting observations, but perhaps the most … Continue Reading

Pink Sheets Takes AIM

Posted in AIM
With a conscious nod to London’s Alternative Investment Market (AIM), Pink Sheets LLC has launched a new designation called OTCQX for domestic and international companies that meet certain criteria. In a March 5, 2007 press release (here), Pink Sheets announced that it had launched the designation for “reputable operating companies that wish to create enhanced … Continue Reading

AIM Reforms Rules for Companies

Posted in AIM, Regulatory Reform
The would-be reformers who propose restructuring the U.S securities regulation regime cite the loss of U.S. IPO market share to overseas markets, particularly London’s Alternative Investment Market (AIM), as justification for regulatory reform. But as The D & O Diary has previously noted (most recently here and here), these overseas markets, especially the AIM, face … Continue Reading

Changing Circumstances in the Global Financial Marketplace

Posted in AIM, International D & O, Regulatory Reform
In a recent post (here), I noted that the cross-border Siemens bribery investigation shows that regulators throughout the world increasingly recognize the importance of vigilance and scrutiny, and that the extent of alleged misconduct in that case could spur further efforts for oversight and reform. In that same vein, a February 15, 2007 New York … Continue Reading

The Weak Case for Regulatory Reform Gets Even Weaker

Posted in AIM, Regulatory Reform, Videos
At the heart of recent calls for regulatory reform in the Interim Report of the Committee on Capital Markets Regulation and in the Bloomberg/Schumer Report is the assertion that the U.S. securities markets are losing global IPO marketshare because of supposed regulatory overkill and the litigious environment in the U.S. Accompanying this assertion is the … Continue Reading

Is London’s “Light Touch” Attracting Fraudsters?

Posted in AIM, International D & O, Paulson Committee, Regulatory Reform
In my prior comments on the Paulson Committee’s calls for regulatory reform (most recently, here), I have suggested that perhaps the U.S. securities markets may be better off without at least some of the companies that are avoiding the U.S. exchanges’ tougher listing requirements. A recent report by a U.K. accounting firm contains interesting data … Continue Reading