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London Stock Exchange introduces rules on corporate governance reporting for AIM companies

  • Corporate Governance  Image

13 Mar 2018

The London Stock Exchange has announced that all AIM companies will need to report on their application of a recognised corporate governance code with effect from 28th September 2018.

Paragraph 26 to Part 1 of the AIM Rules for Companies has been updated and states that AIM companies will be required to include (on a website, free of charge):

  • details of a recognised corporate governance code that the board of directors of the AIM company has decided to apply;
  • how the AIM company complies with that code; and
  • where it departs from its chosen corporate governance code an explanation of the reasons for doing so.

The revised rules also indicate that this information should be reviewed annually and the website should include the date on which this information was last reviewed.
 
A footnote indicates that the implementation of this requirement will take effect from 28 September 2018. However, all new applicants from 30 March 2018 will be required to state which corporate governance code they intend to follow but otherwise will have until 28 September 2018 to comply.

The full document can be on accessed on the London Stock Exchange website here.  Our related Governance in brief publication is available here.

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