The name of Nabarro Wells will for ever be associated with the London Stock Exchange’s first fine of one of its nomads (nominated advisers) under the tighter Aim rules introduced early last year.

The fine of £250,000 and the public censure in October highlighted the desire of the LSE to protect Aim’s reputation more effectively. The list of the firm’s breaches ran to two pages, including six examples of failure to undertake proper due diligence on companies it was bringing to market.