Ultimately it is the AIM quoted company’s responsibility to keep their IR website up to date in accordance with the above guidance. However it is also a nominated advisor’s responsibility to make sure that a company complies with all rules, including Rule 26. A nominated adviser has a responsibility to inform the Exchange as soon as practicable if it believes that it or an AIM company has breached the AIM Rules for Companies. Failure to do so can result in penalties for both the company in question and the Nominated Advisor.
If the LSE considers that an AIM company has contravened these rules, it may take one or more of the following measures:
As an example, in August 2007 the Exchange undertook an exercise to assess compliance with Rule 26 across all AIM companies. Further to this investigation the LSE took disciplinary action against nine AIM companies, resulting in the AIM Executive Panel fining them a total of £95,000 for failing to comply fully with the requirements of Rule 26. The fines ranged from £3,000 to £15,000, depending on the seriousness of the breach.
Source: London Stock Exchage - AIM Rules for Companies