KEY POINTS:
The Securities Commission's annual oversight review of stock exchange operator NZX is to concentrate on rules covering the information that must be provided by public companies.
The commission today said the main focus for its 2007 calendar year review would be NZX's policies on continuous disclosure rules and its administration of those rules, including the publishing of market announcements.
Among other activities to be reviewed, the commission has added to its terms of reference the impact, if any, of NZX's expanding commercial activities on its regulatory function.
The commission expects to publish a report on the review by June 30.
In its review of the 2006 year, the commission said it had found that NZX was satisfying its obligation to operate its markets in accordance with its conduct rules.
The commission also said NZX was aware that some parties perceived that NZX was subject to conflict between its commercial and regulatory functions and the risks that arose from such conflict.
It was satisfied NZX had satisfactory practical measures in place to address those issues, the review said.
- NZPA
