Advisers

AIM - Information for Advisors

AIM is supported by a wide community of expert advisers. The Nomad will be the main adviser to your company during the admission process and throughout its life on market. Other advisers also perform important roles in the admission process in supporting your company. They include a broker, a reporting accountant, legal advisers, public relations and investor relations firms.

Why are Nomads so important to AIM?

The outstanding success of AIM since its launch in 1995 is largely due to the dedication and professionalism of Nomads, making them integral to the market. Each company applying to AIM must appoint and retain a Nomad to guide it through the admission process and its subsequent life as a public company.

London Stock Exchange sets strict criteria for becoming an AIM Nomad, in order to safeguard the integrity of the market, and to ensure that existing and prospective AIM companies have access to high-quality advice and support.

How do I become a Nomad?

In order to become a Nomad, a firm must meet the eligibility criteria as set out in the AIM Rules for Nominated Advisers and complete the relevant application forms. The application is then reviewed by our AIM Regulation team, who will usually discuss it in detail with the firm. Before formal approval as a Nomad and addition to the Nomad register, the firm and its proposed qualified executives will also be subject to a gazetting period.

Approval as a Nomad demonstrates that a firm has fulfilled the strict eligibility requirements set by London Stock Exchange.

Eligibility criteria to become and remain a Nomad

The eligibility criteria and application process for becoming a Nomad are detailed in the AIM Rules for Nominated Advisers . In summary, an applicant seeking approval as a Nomad must:

  • be a firm or company, not an individual
  • have practised corporate finance for at least the last two years
  • have acted on at least three relevant transactions during that two year period, and
  • employ at least four “qualified executives”

The AIM Rules for Nominated Advisers also detail the ongoing responsibilities of a Nomad and set out the review and disciplinary procedures.

A potential Nomad should read these Rules carefully in order to ensure that it is able to satisfy the criteria for approval.

Nomad application forms

The Nominated Adviser application form (NA1) should be completed on behalf of the firm that wishes to become a Nomad.

The Nominated Adviser qualified executive form (NA2) should be completed by all staff employed by the firm who will be involved in Nomad activities in an executive capacity. The eligibility criteria for Nomads require that a minimum of four members of the executive staff must be approved at any time. Therefore, a minimum of four NA2 forms will need to be submitted by the prospective Nomad at the time of its original application. Additional forms will subsequently be needed for further individuals seeking approval as qualified executives.

The NA1 form together with at least four NA2 forms should be submitted to the AIM Regulation team with supporting documentation in accordance with the instructions set out in the NA1 form.

Details of fees payable on application and on an ongoing basis can be found in the AIM Fees for Companies and Nominated Advisers document in our Library

AIM Advisory Group

The AIM Advisory Group is an external committee of senior executives across the AIM community, including AIM companies, Nomads, Brokers, Advisers and Market Makers.

The Group’s main focus is to provide input and advice into all matters affecting the operation and regulation of AIM with the objective of enhancing the attractiveness, good reputation and strategic development of AIM.

The Group meets a minimum of four times per year. Please note that the minutes of these meetings are closed and all members are bound by a confidentiality agreement.

At present, the Group has the following members:

 

Name

Firm

Stuart Andrews

Finncap

Andrew Buchanan

Octopus Investments

Andy Crossley

Peel Hunt

Nick Davis

Memery Crystal

Shaun Dobson

N+1 Singer

Jeff Keating

SP Angel Corporate Finance

Elizabeth Kennedy

Kergan Stewart

Linda Main

KPMG

Henrietta Marsh

Non Executive Director

Adam McConkey

Henderson

Julian Palfreyman

Winterflood Securities

Philip Secrett (Chair)

Grant Thornton Corporate Finance

Chilton Taylor

RSM

Richard Thompson

Cantor Fitzgerald

Gervais Williams

Miton Group

James Wood

Winterflood Securities Limited

Useful Documents

AIM disciplinary proceedures

AIM Investor Survey

AIM Rules for nominated advisors

Authorised regulatory information providers

Nomad declaration

Nominated adviser application NA1

Nominated adviser application NA2

Nominated adviser application NA3

PD AIM Annex I-III

Regulation S