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Listing at European Markets

Certified Adviser

All companies applying to be admitted to trading on Nasdaq First North or the Premier segment must engage a Certified Adviser.

Certified Adviser

In connection with the listing process, all companies applying to be admitted to trading on Nasdaq First North must engage a Certified Adviser in advance of the start-up meeting at the Exchange. The Certified Adviser may be a corporate finance firm, an accounting firm, an investment bank or other entity suitable to act as a Certified Adviser. All Certified Advisers are approved by the Exchange.

The Certified Adviser is responsible for guiding and supporting the company in the listing process. Once the company’s shares have been admitted to trading, the Certified Adviser’s assignment is to support and ensure that the company continuously complies with the rules and regulations. This typically entails discussing any disclosure of information with the company prior to the company publishing the information. The Certified Adviser also monitors the company’s compliance with applicable rules and is obliged to report any potential violations to the Exchange. 

The company must enter into an agreement with the appointed Certified Adviser, which sets out the terms of the Certified Adviser’s assignment. The Certified Adviser plays an important role for companies listed on Nasdaq First North.

Certified Advisers Trading Rules

The company approved as a Certified Adviser may not own more than 10 percent of the shares or voting rights in a company to which they provides advice. In conjunction with the publication of the reports of unaudited annual earnings figures and semi-annual reports, Certified Advisers must provide the Exchange with information about their holdings in those companies to which they provide advice. An employee who is involved in the function as Certified Adviser to a company shall not be allowed to trade in the shares of that company.

CA's Shareholdings

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