Deep Dive: 'AIM has the potential to thrive alongside PISCES' but major reform is required

Amid AIM exodus

London’s junior stock market, AIM, has the potential to work in partnership with the government’s Private Intermittent Securities and Capital Exchange System (PISCES) framework, but stakeholders have said reform is vital to stymie the recent exodus of capital and companies.

AIM has struggled to keep hold of many of its existing companies in recent years. Some have naturally graduated to London's main market, while others have opted to abandon their listing in the English capital in favour of one across the pond or with fewer regulatory burdens.  In recent weeks, toymaker Hornby revealed its intention to ditch AIM, citing the market's "limited liquidity" and the "regulatory burden and cost of maintaining the public quotation" as reasons for its decision to delist. FCA launches consultation on private stock market in boost to PISCES framework "Companies...