Case Study – East Asia
A UK-based financial services company was advising a Chinese company on its public listing on the London Stock Exchange’s Alternative Investment Market (AIM). Billiter worked with our client’s compliance team to provide tailored Enhanced Due Diligence research on the company, its shareholders and management team to ensure compliance with the AIM Rules for Nominated Advisers.
Billiter worked with our client, providing them with research specific to that transaction and their internal compliance requirements. The bespoke investigation ensured that the Chinese company and its Directors met the suitability criteria in order to be listed on the exchange. Billiter provided checks to verify the management team’s career history, business interests, appointments, and checks on their reputation and probity. Searches were also undertaken for any litigation, court cases or regulatory issues involving either the company or its Directors.
Billiter’s investigation verified what the client knew about the team from its Directors Disclosure Forms and showed that all but one was a suitable member of the management team. The COO was found to have previously been fined as a result of an investigation by local financial regulators and had served two years in prison for corruption. Billiter’s investigation led to the replacement of the COO and protected our client from a potential regulatory breach and serious reputational damage.