NZ RegCo and FMA announce Memorandum of Understanding

NZ RegCo and FMA sign Memorandum of Understanding 11 May 2023 - NZ RegCo and the Financial Markets Authority (FMA) today signed a Memorandum of Understanding (MoU) setting out a framework for engagement and co-operation regarding regulation of New Zealand's capital markets. The MoU formalises protocols and arrangements between the parties, covering relationship, strategic and operational engagement. It recognises the parties' shared interests and commitment to promote confidence in the New Zealand capital markets, through enhanced regulatory cooperation and collaboration. Particular areas of priority under the arrangements include issuers' continuous disclosure obligations, and oversight and enforcement of the prohibitions on insider trading and market manipulation. NZ RegCo is an independently governed entity, responsible for monitoring and enforcing compliance by listed issuers and accredited market participants with NZX's market rules. An important FMA objective is to promote and facilitate the development of fair, efficient and transparent financial markets. Under the FMA Act, the FMA has general information gathering and enforcement powers, including monitoring, supervision, investigation, and enforcing compliance with securities, financial reporting and company laws (as they apply to financial services and securities markets). NZ RegCo Chief Executive Joost van Amelsfort said the two agencies have a strong operational relationship and work closely together on oversight of the listed capital markets. "This MoU was a natural next step to enhance strategic collaboration, following the establishment of NZ RegCo in 2020," Mr van Amelsfort said. FMA Chief Executive Samantha Barrass said: "The FMA has always maintained a strong, collaborative relationship with NZX in order to deliver our objectives and maintain trust and confidence in the integrity of NZ's capital markets. The MoU with NZ RegCo signals the enhancement of this relationship under NZX's new governance arrangements with the establishment of NZ RegCo." The MoU replaces the 2015 MoU between the FMA and NZX and has been published on the FMA and NZ RegCo websites. ENDS For further information, please contact: Joost van Amelsfort NZ RegCo, Chief Executive T: 04 498 2278 E: joost.vanamelsfort@nzregco.com Andrew Park FMA Media Relations Manager T: 021 220 6770 E: Andrew.Park@fma.govt.nz End CA:00411235 For:REGCO Type:GENERAL Time:2023-05-11 08:57:57