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- Release Date: 04/06/13 11:59
- Summary: GENERAL: NZX: NZX's strong progress and full compliance noted by FMA
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NZX
04/06/2013 09:59
GENERAL
REL: 0959 HRS NZX Limited
GENERAL: NZX: NZX's strong progress and full compliance noted by FMA
NZX welcomes the Financial Markets Authority's (FMA) General Obligations
Review, which concludes that by the end of the review period NZX was fully
compliant with its obligations under the Securities Markets Act and the
Authorised Futures Exchange (NZX Limited) Notice.
The review, the second assessment of its kind by FMA, covers NZX's operation
of equity, debt and derivatives markets during the period of 1 January 2012
to 31 December 2012.
NZX has made number of key changes to its structure and improvements to
processes following FMA's inaugural review last year. This has required
significant focus and commitment across the organisation, and NZX is pleased
these changes have contributed to achieving full compliance.
Enhancements made during 2012 included a tightly focused regulation team and
the formation of a new markets services group, responsible for regulated
market operations and customer service. In addition, NZX increased resourcing
in Regulation and Market Operations, and put in place new processes, service
standards and reporting.
NZX CEO Tim Bennett commented: "In partnership with FMA, we have made solid
progress towards strengthening the quality of the operation of our markets,
and we are delighted our considerable efforts in these areas are reflected
positively in this report.
"Importantly, FMA noted NZX had, to the extent to which it was reasonably
practicable, done all things necessary to ensure that each of our Registered
Markets and the Derivatives Market was a fair, orderly and transparent
market."
For further information please contact:
Kate McLaughlin
Head of Corporate Communications
M: 027 533 4529
E: [email protected]
End CA:00237003 For:NZX Type:GENERAL Time:2013-06-04 09:59:40
