NZ RegCo had to revamp surveillance after pandemic chaos

NZ RegCo had to revamp surveillance after pandemic chaos
The Financial Markets Authority also told the stock exchange to improve its continuous disclosure investigations (Image: BusinessDesk)
Dan Brunskill
New Zealand’s listed market watchdog had to adjust its surveillance tools after volatile pandemic trading triggered huge numbers of conduct alerts, a report by the Financial Markets Authority has revealed.The FMA’s annual review of the NZX’s obligations as a market operator showed that NZ RegCo’s market surveillance team was inundated with alerts last year.Monitoring and responding to the automated real-time alerts (SMARTS) consumed approximately 77% of the team’s resources during May and June, when covid-19 volati...

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