By Nigel Somerville, the Deputy Sheriff of AIM | Wednesday 7 August 2019
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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.
SVS, which is now in special administration, was the sole broker to AIM-listed Inspirit (INSP) so it is now operating without a broker – contrary to AIM Rule 1, which technically means it should be suspended forthwith. You might think that a little harsh, since there is no way Inspirit could have known its broker would have the lights turned out for it by the FCA all of a sudden. I daresay AIM Regulation is allowing a grace period for former SVS clients to sign up with another spivvy bottom-end of AIM broker. Inspirit announced on Monday that it would make a further announcement in due course, noting the demise of its (now former) broker. But here is the thing...