FMA report on NZX General Obligations Review

News release

4 June 2013

FMA report on NZX General Obligations Review

The Financial Markets Authority has today released its annual report on NZX’s compliance with its obligations under the Securities Markets Act and the Authorised Futures Exchange (NZX Limited) Notice. The period under review was 1 January to 31 December 2012.

FMA has concluded that by the end of the review period NZX was fully compliant with its obligations and had met its statutory requirements.

“NZX has committed itself to a programme of continuous improvement in all aspects of its operations that contribute to its delivery of fair, orderly and transparent markets,” said FMA Head of Compliance Monitoring, Elaine Campbell.

“Where we did identify areas that need more work, NZX displayed a willingness to take this feedback on board, and a commitment to implementing our recommendations,” said Ms Campbell.

The report found three areas where NZX needs to focus further efforts in 2013:
• Managing potential conflicts of interest;
• Enforcing compliance; and
• Board reporting and oversight.

A copy of the NZX General Obligations Review can be found here.
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