New Zealand: Financial Sector Assessment Program—Detailed Assessments of Observance of Standards and Codes—International Organization of Securities Commission (IOSCO)—Objectives and Principles of Securities Regulation

International Monetary Fund

No 2004/417, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper evaluates the Observance of Standards and Codes on the International Organization of Securities Commission (IOSCO) Objectives and Principles of Securities Regulation for New Zealand. New Zealand equity markets are comparatively small with market capitalization of about 44 percent of GDP. Reflecting a preference for property investment, ownership of New Zealand-listed equities remains mostly in the hands of offshore investors and domestic institutional investors, with only about one-fourth held directly by households. Securities market intermediaries include sharebrokers, futures dealers, investment advisers, and managers of collective investment schemes, including contributory mortgage brokers.

Keywords: ISCR; CR; NZX firm; securities regulator; futures exchange; insider trading; conduct rule; market intermediary; material information; NZX business rule; Securities; Securities regulation; Securities markets; Financial statements; Futures (search for similar items in EconPapers)
Pages: 43
Date: 2004-12-22
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