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Article

19 Jul 2012

Author:
Richard Lee, Open Society Initiative for Southern Africa (OSISA)

Spotlight on the London Stock Exchange

In a damning report...Rights and Accountability in Development (RAID) catalogues the inadequacies of the London Stock Exchange’s regulatory framework...[The] report focuses on how the notorious Central African Mining and Exploration Company plc (CAMEC) [now owned by Eurasian Natural Resource Corporation (ENRC)] was allowed to trade and flourish on London’s junior Alternative Investment Market (AIM) [part of London Stock Exchange]...RAID’s report is the first systematic examination of the extent to which corporate conduct in zones of conflict such as the Democratic Republic of the Congo (DRC) is taken into account by stock market regulations...[also refers to Seymour Pierce Limited] [Business & Human Rights Resource Centre invited the companies criticised in the report to respond. London Stock Exchange declined to respond. ENRC & Seymour Pierce did not respond.]

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