Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


FMA publishes annual review of NZX regulatory obligations

FMA publishes annual review of NZX regulatory obligations; 11 agreed actions


The Financial Markets Authority (FMA) today published its annual General Obligations Review of NZX.

The FMA’s report confirms that NZX met its obligations, under the Securities Markets Act 1988, to ensure that its markets were fair, orderly, and transparent. The review covered the period January – December 2013.

The report lists 11 actions that NZX will take, in order to achieve further improvements in its arrangements for operating the markets.

NZX is New Zealand’s only registered exchange and the front line regulator for its markets. The 2013 report is the third General Obligations Review of NZX by the FMA.

The Chief Executive of the FMA, Rob Everett, said the review process had been rigorous, involving in-depth reviews of NZX’s resources, policies, and practices. This is notwithstanding FMA’s close involvement with, and monitoring of, NZX day-to-day.

Mr Everett said that the FMA and NZX have agreed that NZX will undertake a number of actions, some of which are already underway. This will address issues discussed during the review about NZX’s arrangements for managing conflicts, monitoring conduct, and enforcing compliance.

“NZX has given top priority to its regulatory obligations, and the FMA has seen substantial improvements from the previous report,” Mr Everett said. “I’m pleased we have been able to agree a schedule of tangible and actionable improvements this year.

“Along with the improvements that NZX has already implemented, I believe we have the appropriate degree of reassurance - on regulatory compliance - that investors, firms, and the Government expect of New Zealand’s only registered exchange.”

Read the NZX General Obligations Review report here.


Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Real Estate: Housing Prices Head South In Most Of NZ

Housing became more affordable for first home buyers in many parts of the country including Auckland last month, as falling prices more than offset rising mortgage interest rates. More>>

ALSO:

Cosmetics & Pollution: Proposal To Ban Microbeads

Cosmetic products containing microbeads will be banned under a proposal announced by the Minister for the Environment today. Marine scientists have been advocating for a ban on the microplastics, which have been found to quickly enter waterways and harm marine life. More>>

ALSO:

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:

NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news