New Zealand FMA and NZX sign memorandum of understanding

The Financial Markets Authority (FMA) and NZX have this week signed a Memorandum of Understanding (MoU), reports LeapRate.

The MoU sets out the framework for engagement and co-operation between the FMA and NZX, taking into account their complementary regulatory responsibilities for New Zealand’s capital markets.

The FMA and NZX have developed a cooperative operational relationship to help deliver the most effective regulation of New Zealand’s capital markets, and this MoU formalises and enhances that collaboration.

In addition to the FMA’s statutory requirement to undertake and publish a review of NZX’s performance of its regulatory functions on an annual basis (under the Financial Markets Conduct Act 2013), the MoU confirms the structure for the ongoing dialogue between the FMA and NZX in respect of NZX’s day-to-day regulatory functions.

The MoU also points to the mutual commitment to the wider development of New Zealand’s capital markets and to contributing to the protection of shareholders and investors’ interests.

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