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

Thu, 01 Jul 2021

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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