Annual review of NZX published

Annual review of NZX published

The Financial Markets Authority (FMA) has published its annual review of whether NZX met its statutory obligations as a licensed market operator.

NZX plays a vital role in helping to achieve fair, orderly and transparent financial markets in New Zealand to promote confident and informed participation by investors.

NZX complied with its market operator obligations during the review period (calendar year 2016). The FMA did not find any systemic compliance issues with NZX’s market operator obligations. However, the FMA has suggested where it believes improvements could be made.

The annual review focussed on three key areas:
• NZX regulatory enforcement function
• NZX governance arrangements (regulatory governance committee)
• NZX human resources

Garth Stanish, FMA Director of Capital Markets, said, “The FMA will continue to engage with NZX on these suggested improvements as both the FMA and NZX seek to support confident and informed participation in fair, orderly and transparent markets.”

In 2016 there was increased co-operation between NZX and the FMA concerning joint regulatory matters. The FMA supports NZX’s efforts to increase the public visibility of its oversight and enforcement function.
A copy of the report can be found here.

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