NZ stock exchange rethinks corporate governance rules

[WELLINGTON] New Zealand's stock exchange is reviewing its corporate governance requirements, which have not been updated in more than a decade. "NZX recognises that regulation has an important role to play in improving corporate governance standards and is reviewing its corporate governance reporting requirements to ensure they remain fit for purpose," said NZX head of policy Hamish Macdonald in a statement.

The NZX said in a paper on the review that it wanted to address the fact that its current corporate governance rules lacked clarity and that New Zealand's reporting regimes were fragmented.

NZX would accept submissions before Jan 29 and would release a list of proposed rule changes in the second quarter next year.

REUTERS