By Ben Turney | Wednesday 8 July 2015
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The New World Oil & Gas (NEW) forward selling fiasco has been a disaster for the credibility of AIM. So far, every single safeguard that is meant to be in place to protect private investors has failed. Predatory regulated City firms are on the cusp of making millions of pounds of profit from the chaos they have caused, while hundreds of private investors stand to suffer unacceptable and unjust losses. Had the authorities been doing their jobs properly in the first place none of this would have happened, but such is the paucity of regulatory oversight on AIM that the conditions have been primed for this shambolic situation for a long time. Nevertheless, the London Stock Exchange has one last chance to prove itself deserving of its licence for self-regulation of “the world’s most successful growth market”.
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