From 12 October 2004, AIM will operate as an exchange-regulated market, relinquishing its EU "Regulated Market" status, which it has held since its launch in June 1995.
This move will ensure that AIM’s current regulatory regime and market structure will be preserved with continued regulatory oversight by the Financial Services Authority.
This decision by the London Stock Exchange follows several months of consultation and discussions with the AIM community, HM Treasury and the FSA about the impact of EU Directives on AIM.
Martin Graham, Head of AIM, said:
"AIM is the world’s most dynamic market for smaller growing companies and the London Stock Exchange is delighted that it can continue to operate the market in its current form. This change to AIM’s status secures its position and gives us a firm foundation from which to continue to grow and develop the market."
The London Stock Exchange is considering specific rule changes that may be required to ensure the continuing smooth operation of AIM as an exchange-regulated market and will consult with market participants and the AIM community in the coming months.
