To list on the NSX a Nominated Adviser must be appointed to assist the issuer with the admission procedure and compliance with ongoing obligations under the NSX Rules.
A new issuer must appoint an external Nominated Adviser (that is, an independent approved NSX Nominated Adviser). An issuer may have the option to have internal Nominated Adviser representation (that is, two representatives of the listed company approved by the Exchange) 12 months after listing. This is subject to approval by the Exchange.
Click here to see the current list of Nominated Advisers.
Role
The Nominated Advisers role is to help the issuer’s board with the application process by ensuring that the directors have been guided and advised on their responsibilities and obligations under the NSX rules.
The Nominated Adviser also will explain the NSX rules to the board although specialists may be needed to cover areas of the rules that fall outside of the adviser’s range of expertise.
Because the directors are responsible for compliance with the NSX’s rules, it is essential that they are confident that they understand their responsibilities and have taken the steps required to ensure the information in the application for listing is complete and correct. At the time of admission, the Nominated Adviser will confirm to the NSX that the issuer has complied with the relevant rules.
Once the securities are admitted to the market, the Nominated Adviser needs to be available at all times to guide and advise the issuer and provide further assistance as needed.
Service Period
Issuers are required, under the NSX rules, to retain the services of a Nominated Adviser at all times. To guard against the possible resignation of an adviser it is recommended that you agree to a notice period at the time of appointment to provide sufficient time to engage another adviser.