Share
- Release Date: 29/06/12 11:08
- Summary: GENERAL: NZX: Strong partnership will deliver results for markets
- Price Sensitive: No
- Download Document 1.57KB
NZX
29/06/2012 09:08
GENERAL
REL: 0908 HRS NZX Limited
GENERAL: NZX: Strong partnership will deliver results for markets
Strong partnership will deliver results for markets
29 June 2012 - NZX is pleased that the inaugural Oversight Review by the
Financial Markets Authority (FMA) has found that NZX is meeting its
obligations to run fair, orderly and transparent markets in New Zealand.
The review period covered 1 July 2010 to 31 December 2011.
NZX notes the conclusions of the FMA that, during the review period, three
specific aspects of NZX's regulatory activities required attention.
NZX has already taken action in two of the three areas - creating and
resourcing a more explicit division between NZX's market supervision and
commercial legal functions - during the first half of 2012.
Work on the third area - formally documenting the existing decision-making
steps in the enforcement process - is underway.
NZX CEO Tim Bennett said, "We recognise that effective frontline regulation
is a core asset and, given the steps we've already taken, it's clear we're on
the same page as the FMA on where some more focus was required."
A key development during the review period was the establishment of NZX's
world class Clearing House.
"The Clearing House has significantly reduced systemic risk in our markets.
It's proof of our preparedness to invest in market quality, and we look
forward to working with the FMA further on our common objective to further
develop New Zealand's capital markets," said Tim Bennett.
ENDS
End CA:00224416 For:NZX Type:GENERAL Time:2012-06-29 09:08:38
