Oulook: Undermining AIM
Tuesday 01 February 2005
The purpose of this floor is to ensure the issue is large enough to attract institutional money, which in the LSE's view should in turn allow for some degree of corporate governance control. In my experience, institutional involvement rarely guarantees anything, while the idea that the sort of punters who play the Alternative Investment Market need protecting from their own stupidity is just plain patronising. Caveat emptor is all that's needed to govern AIM. All else only undermines AIM's high risk, potentially high reward purpose. I, for one, will not be complaining of regulatory failure if the present exuberance ends in tears.
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