The Financial Markets Authority has confirmed that NZX has complied with its statutory obligations to ensure that its markets are fair, orderly, and transparent.
This year’s General Obligations Review of NZX is the FMA’s fourth annual review. It covers the period from January to December 2014 and reports on NZX’s compliance with its obligations under the Securities Markets Act 1988.
During last year’s review, NZX agreed to 11 actions relating to arrangements for managing conflicts of interest, monitoring conduct, and enforcing compliance.
The FMA is satisfied that NZX has completed all but one of the agreed actions and is carrying out its role as a frontline regulator effectively.
The final agreed action from last year’s report, to review the penalty structure within the Tribunal Rules for minor and unambiguous breaches of the market rules, is under way.r the Financial Markets Conduct Act 2013, which fully came into force in December 2014, and will include the NZX’s new NXT market.
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