The “Best Practices for NewConnect Listed Companies” and the “Best Practices for Authorised Advisers on NewConnect” have been in force on NewConnect market since 2009.

Raising the standards for listed companies and Authorised Advisers on NewConnect enhances the value of public companies listed on NewConnect and the quality of their relations with Authorised Advisers, which promotes the development of the market and improves its efficiency.

The “Best Practices for NewConnect Listed Companies and Authorised Advisers”, in force since 2009, needed to be revised and updated with a view to further professionalisation of listed companies and Authorised Advisers. As part of this initiative, the Exchange Management Board approved the new “Code of Best Practice for Authorised Advisers on NewConnect” on 16 November 2023 and the new “Best Practices for NewConnect Listed Companies 2024” (“DPNC2024”) on 18 December 2023.

The new “Code of Best Practice for Authorised Advisers on NewConnect” was developed with a view to improving the quality of services provided by Authorised Advisers and to provide a set of standards to support entities providing services as Authorised Advisers. The document clarifies the role and function of Authorised Advisers, which is crucial in the context of the requirement for Authorised Advisers to exercise due diligence in performing their duties and to protect the safety of trading and the interests of alternative trading system participants.

“The new “Best Practices for NewConnect Listed Companies 2024” are part of GPW’s ongoing efforts to create and improve an environment conducive to the professionalisation of companies listed on NewConnect, especially to ensure that they remain public companies. The adoption of the new principles for use by companies on the NewConnect market should have a positive impact on their corporate governance. The new Best Practices place greater emphasis on the principles relating to the functioning of companies and their bodies and relations with shareholders. For the first time, the set of corporate governance principles addressed to the NewConnect market includes ESG factors, which will also apply to smaller entities which have no direct reporting obligation, for example through participation in supply chains”, said Agnieszka Gontarek, Director of GPW’s Listing Department.

  Best Practices of NewConnect Listed Companies 2024   Best Practice for Authorised Advisers on NewConnect