4 ms·

Yes, all of our standards are enforceable, that’s part of the responsibility of being an SRO. When a company makes promises as part of listing on LTSE, the publ

by eries 6y ago

Yes, all of our standards are enforceable, that’s part of the responsibility of being an SRO. When a company makes promises as part of listing on LTSE, the public can believe them

GordonS 6y ago
Nothing here seems very "concrete" TBH, it all seems quite "hand wavy" and vague. Can you provide any specific examples of standards that could be enforced, and how?
- eries 6y ago
  https://www.sec.gov/rules/sro/ltse/2019/34-86327.pdf https://www.sec.gov/rules/sro/ltse/2019/34-86327.pdf
alasdair_ 6y ago
Let’s say the largest flagship company on LTSE decides to move to short-term governance strategies. How can investors be sure this company really would be delisted, even if it’s the company that makes LTSE the most money?
- eries 6y ago
  Everything we do is completely transparent. If a company deliberately violates the policies they have publicly adopted, not only would they be delisted they would likely be committing securities fraud. I think it's likely you'd hear about it. You imply rather than state directly that you fear our regulatory decisions would be influenced by our commercial interests, so just to address that part, we have an extensive set of checks and balances in our own corporate structure that double-buffer these decisions.
  - alasdair_ 6y ago
    Thank you. I thought I was being direct but I’ll try to be more so. Just to be clear, I don’t doubt you personally in any way, it’s more that I think it’s an enormously difficult problem to get a group of people to take action on something when they will receive a lot of money by NOT taking that action. More specifically: companies are already supposed to take the wishes of long-term shareholders into account, and boards are supposed to enforce this, yet in practice this doesn’t happen much because, well, incentives dictate otherwise. Can you share some of the checks and balances that would stop the exchange itself acting in its controllers own short-term self-interest?
Bedon292 6y ago
What happens to the shares of a company that someone buys on this exchange if it is delisted? Do they have to then somehow sell them on another exchange? Wouldn't delisting harm the value of those shares, if they can be sold elsewhere? Wouldn't that cause serious financial harm to holders of those shares, who bought things on the LTSE expecting long term viability?

by eries 6y ago

Yes, all of our standards are enforceable, that’s part of the responsibility of being an SRO. When a company makes promises as part of listing on LTSE, the public can believe them

GordonS 6y ago

Nothing here seems very "concrete" TBH, it all seems quite "hand wavy" and vague. Can you provide any specific examples of standards that could be enforced, and how?

eries 6y ago
https://www.sec.gov/rules/sro/ltse/2019/34-86327.pdf https://www.sec.gov/rules/sro/ltse/2019/34-86327.pdf

alasdair_ 6y ago

Let’s say the largest flagship company on LTSE decides to move to short-term governance strategies. How can investors be sure this company really would be delisted, even if it’s the company that makes LTSE the most money?

eries 6y ago
Everything we do is completely transparent. If a company deliberately violates the policies they have publicly adopted, not only would they be delisted they would likely be committing securities fraud. I think it's likely you'd hear about it. You imply rather than state directly that you fear our regulatory decisions would be influenced by our commercial interests, so just to address that part, we have an extensive set of checks and balances in our own corporate structure that double-buffer these decisions.
- alasdair_ 6y ago
  Thank you. I thought I was being direct but I’ll try to be more so. Just to be clear, I don’t doubt you personally in any way, it’s more that I think it’s an enormously difficult problem to get a group of people to take action on something when they will receive a lot of money by NOT taking that action. More specifically: companies are already supposed to take the wishes of long-term shareholders into account, and boards are supposed to enforce this, yet in practice this doesn’t happen much because, well, incentives dictate otherwise. Can you share some of the checks and balances that would stop the exchange itself acting in its controllers own short-term self-interest?

Bedon292 6y ago

What happens to the shares of a company that someone buys on this exchange if it is delisted? Do they have to then somehow sell them on another exchange? Wouldn't delisting harm the value of those shares, if they can be sold elsewhere? Wouldn't that cause serious financial harm to holders of those shares, who bought things on the LTSE expecting long term viability?