Sharechat Logo

FMA completes NZX inquiry


Wednesday 3rd August 2011 1 Comment

Text too small?

FMA has completed its inquiry into continuous disclosure issues in relation to comments made by Mark Weldon, CEO of NZX, concerning the carrying value of its subsidiary Clear Grain Exchange.

FMA has considered responses from Andrew Harmos, Chairman of NZX, and a NZX market announcement of 18 July 2011 as to the value of Clear Grain Exchange. FMA is now satisfied that NZX is not in breach of its continuous disclosure obligations as an issuer under the Securities Markets Act 1988.

FMA is also now satisfied that the recent sale of NZX shares by Weldon was conducted in a manner compliant with applicable financial markets legislation.

FMA does not propose to take any regulatory action based on the information currently available to it in relation to these issues.

  General Finance Advertising    

Comments from our readers

On 4 August 2011 at 7:22 am goldenfox said:
Wow FMA is taking care of the cowboys out there and so much for Weldon setting a good example of best practise. But confidence in NZ's financial markets is secure, Nigerian lottery anyone?
Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ dollar falls, NZX suspends trading after 6.2 magnitude Wellington earthquake
Cash trading on New Zealand stock exchange surges in first half, driven by equities
NZX cash trading tops $5 bln as MightyRiverPower listing beefs up market
NZX cash trading value jumps by 58 percent in February from a year earlier
NZX looks to launch spot gas market in June
NZX full-year profit falls 32 percent
NZX boss Bennett rounds out 2012 filings with $1.87M share acquisition
Equity trading jumps in NZX cash market as NZX 50 nears 5-year high
NZX names Amelia Wong as head of cash markets
NZX rings more changes as PR chief Macrae exits