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Quindell: Explaining the Difference Between a Broker & a Nomad for Bulletin Board Morons

Tom Winnifrith
Sunday 4 May 2014

The Bulletin Board Morons insist that Cenkos, Nomad to Quindell has endorsed the company by publishing a ludicrous buy note with a 90p target. Sorry folks but you do not understand the system and miss the point.

In the City integrated investment banks operates with Chinese Walls between departments. That is to say Cenkos the broker must operate as if it was a different form to Cenkos the Nominated Advisor.

A broker publishes research and helps companies raise money by issuing shares. A Nomad is responsible for regulatory matters. Ultimately it reports to the AIM team and is responsible to the AIM team for ensuring, inter alia, that e very RNS issued by a company has been verified and it’s true.

Hence post the Quindell rebuttal of Gotham

on Shareprophets | Comments
About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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