At last month’s World Economic Forum which was held in Davos, Switzerland, John Thain, CEO of the New York Stock Exchange, took a direct shot at AIM for what he considered as a lack of regulatory guidance. He was quoted as saying “AIM did not have any standards at all and anyone could list”. The London Stock Exchange Chief Executive, Clara Furse, who recently fended off NASDAQ latest hostile purchase offer of $5 billion (US) dollars in December of 2007, responded curtly emphasizing AIM’s overriding principle: that it is centered on providing emerging growth companies with listing on an exchange and access to the capital markets and that regulation of the market has been designed to balance those needs with those of investors who require adequate regulatory comfort. She emphasized that the role of the Nominated Advisors or Nomad as central to the operation, regulation and success of AIM.
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