NZX welcomes the Financial Markets Authority’s (FMA) fourth annual General Obligations Review, released today, which assesses and reports on NZX’s compliance with its statutory obligations.
The FMA’s report concluded that during the 2014 review period NZX complied with all of its statutory obligations. It also noted:
• NZX has effective arrangements for operating fair, orderly and transparent markets, and its activities during 2014 demonstrated a commitment to continuous improvement, ensuring its ongoing compliance with the statutory obligations
• The actions delivered by NZX in 2014 have further strengthened NZX’s arrangements for handling conflicts, monitoring conduct and enforcing compliance
• There is now greater visibility and market awareness of NZX’s regulatory activities and outcomes
The FMA does not require NZX to take any specific actions following this current review.
NZX CEO Tim Bennett commented: “This review by the FMA highlights the significant work and investment NZX has made in our role as frontline regulator of New Zealand’s capital markets to ensure we run fair, orderly and transparent markets.”
“Against the backdrop of a new market environment in New Zealand following the introduction of the Financial Markets Conduct Act, NZX is 100% committed to operating well regulated markets that support confident and informed investor participation.”
NZX Head of Market Supervision Joost van Amelsfort, who leads NZX’s regulatory function, commented: “Our regulatory responsibilities are fundamental to the operation of well functioning and vibrant capital markets, and NZX is extremely well placed on this front.”
“We are committed to a positive and robust working relationship with the FMA, and look forward to continuing to work together to run well regulated markets that support public confidence in New Zealand’s financial markets.”