Oversight Report

NZ RegCo publishes an Oversight Report. This report provides increased insight into NZ RegCo's strategic objectives, investigation and enforcement activity, and its monitoring and engagement work with issuers and participants.

The report reflects the risk-based approach to regulation and emphasis on proactive engagement and best practice behaviour, and includes information on:

  • Investigation and enforcement activity undertaken, including complaints received by NZ RegCo
  • Key learnings for issuers and participants coming out of matters referred by NZ RegCo to the NZ Markets Disciplinary Tribunal
  • Key themes in NZ RegCo’s conduct and engagement work
  • Initiatives undertaken to support broader market regulation

The NZ RegCo Oversight report for the year ending 31 December 2023 can be viewed here.

Past years' reports can be viewed here.

NZ RegCo Enforcement Policy

NZ RegCo's Approach to Enforcement explains:

  • our goals and priorities
  • our process for investigating potential breaches of the Rules
  • what we consider when deciding whether or not to take enforcement action and
  • what happens when we take enforcement action.

A copy of Approach to Enforcement can be found here.

NZX Issuer Updates

NZX's quarterly update for issuers includes updates on regulation and market operations. If you would like to be added to the subscription list, please email with Issuer Update in the subject line.

NZX and/or NZ RegCo
Listing Rules
Summary of NZ Reg information

June 2024

NZX and NZ RegCo


  • Authorised Representatives
  • Authorised Representatives Training

May 2024

NZ RegCo

Definitions, 1.22

  • Authorised Representatives
  • Authorised Representatives Training

April 2024

NZX and NZ RegCo

Chapter 4, 9.9.1

  • Trading halts
  • Raising capital
  • NZMDT public censure of issuer

March 2024

NZ RegCo

Chapter 4, 9.9.1

  • Oversight Report
  • Trading halts
  • Raising capital
  • Authorised representatives
  • Issuer training modules

December 2023

NZX and NZ RegCo


  • Climate reporting disclosures
  • Trading halts
  • NZMDT decisions

September 2023

NZX and NZ RegCo

2.6.3, 2.13.2(c), 3.26.2(a) & Corporate Governance Code

  • Trade with Caution Alerts
  • Annual Reporting and NZX Corporate Governance Code
  • NZMDT determination
  • Audit Committee Composition
  • Market Announcements - Contact Information
  • Listing Rules Practice Notes

September 2023

NZ RegCo


  • Information on new "Trade with Caution" alert

June 2023

NZX and NZ RegCo

3.1.1, 3.6 - 3.8, 3.23.1, 3.23

  • MAP data and templates
  • Trading halts
  • Price sensitive announcements
  • Sending documents to shareholders

May 2023


  • Annual reporting
  • NZX Corporate Governance Code

March 2023

NZX and NZ RegCo

3.7.1, 3.8.1

  • 2022 Oversight Report
  • Climate Statements report

December 2022

NZX and NZ RegCo

2.7.1, 3.20.1

  • Effective date of changes to Directors and Senior Managers
  • Debt offers - "P" flags
  • Appointment and election of Directors

September 2022

NZX and NZ RegCo


  • Appropriate MAP use
  • Issuer availability
  • Practice Note on Issues, Redemptions, and other changes in Quoted Financial Products

June 2022

NZX and NZ RegCo

3.1.1 3.13.1 3.14.1

  • Waiver and ruling applications - engagement with NZ RegCo
  • Asset impairment - financial reporting and continuous disclosure
  • Announcements - applying the "P" flag

May 2022

NZ RegCo

1.7.2 3.26

  • Foreign exempt issuer obligations

March 2022

NZ RegCo

2.8 8.4

  • NZ RegCo 2021 Oversight and Engagement Report
  • 2022 Market Conduct enforcement work

December 2021

NZX and NZ RegCo

3.1.1 3.5.1 3.26.1

  • Debt listing - maturity of quoted bonds
  • Market conduct case studies: breach of continuous disclosure obligations and incorrect entry of net tangible assets data

October 2021

NZX and NZ RegCo

3.1.1 3.14.4

  • Information on trading halts
  • Cancelling a shareholder meeting
  • cancelling a dividend payment
  • Class Ruling and Waiver on AT1 instruments
  • Market conduct case study: releasing material information to the market "promptly and without delay"

September 2021

NZ RegCo


  • Class Ruling and Waiver on AT1 perpetual preference shares

August 2021

NZ RegCo


  • Shareholders Meetings during COVID-19 alert level 4

July 2021

NZX and NZ RegCo

3.1.1 3.2.1 3.8.1(c) 3.20.1

  • Gender Composition in Annual Reporting
  • Continuous disclosure obligations

March 2021



  • Oversight and Engagement report
  • Trading halts
  • '3 strike' approach to Market Announcement Platform data breaches

December 2020

NZX and RegCo


  • Data entry
  • Market conduct - continuous disclosure

October 2020

NZX and NZ RegCo


  • Amendments to COVID-19 class waiver decisions
  • Continuous disclosure guidance note

September 2020

NZ RegCo


  • Amendments to COVID-19 class waiver deicisions

August 2020

NZ RegCo

3.1.1(b) 3.26.3

  • Releasing announcements when experiencing connectivity issues with MAP
  • Disclosure obligations of ASX Foreign Exempt Issuers

April 2020

NZ RegCo

3.1 3.14.4

COVID-19 and approach to disclosure:

  • Assessing materiality in a volatile market
  • Material deviations
  • Insufficient information for market updates
  • Cancellation or deferral of dividends and interest payments
  • Capital raising

March 2020

NZ RegCo

3.13 4.17 4.19

  • COVID-19 class relief for Accelerated Non-Renounceable Entitlement Offers and the pricing of retail entitlement offer components of accelerated offers

March 2020

NZ RegCo

3.5.1 3.6.1 3.12.1 4.3.1 4.5.1 4.17

  • COVID-19 class relief for periodic reporting requirements
  • COVID-19 class relief for equity capital raising capacity

January 2020

NZX and NZ RegCo

3.5.1 3.6.1

  • Thematic review on material information
  • Guidance on MAP data entry
  • "Gross value" definition for major transactions

Archived Issuer Updates

NZX Participant Updates

NZX's periodic update for participants includes updates on regulatory and policy matters.

Current and historical versions of the NZX Participant Updates can be read below:

Thematic Review

The 2019 thematic review focused on issuer practices for identifying and flagging market announcements containing Material Information. The review is intended to provide insights and guidance to issuers and their advisers in support of market disclosures.

The Thematic Review for 2019 can be viewed here.

Past years' reports can be viewed here.