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

IMF Staff Country Reports, December 22, 2004

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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

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Bibliographic details

• Published: December 22, 2004
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451830286.002

Scope and purpose

• Evaluates the Observance of Standards and Codes on the International Organization of Securities Commission (IOSCO) Objectives and Principles of Securities Regulation for New Zealand.
• Part of IMF Staff Country Reports series.

Market structure and ownership

• New Zealand equity markets are comparatively small with market capitalization of about 44 percent of GDP.
• Ownership of New Zealand-listed equities:
  • Mostly held by offshore investors and domestic institutional investors.
  • Only about one-fourth held directly by households.
• Market preferences:
  • Reflecting a preference for property investment, equity ownership is lower among households.

Securities market intermediaries and instruments

• Securities market intermediaries include:
  • sharebrokers
  • futures dealers
  • investment advisers
  • managers of collective investment schemes, including contributory mortgage brokers
• Instruments and market elements referenced:
  • Securities, Securities markets, Futures, futures exchange, market intermediary

Regulatory focus and topics covered

• Evaluation centers on observance of IOSCO Objectives and Principles of Securities Regulation.
• Subject areas listed:
  • Financial institutions
  • Financial markets
  • Financial regulation and supervision
  • Financial statements
  • Futures
  • Public financial management (PFM)
  • Securities
  • Securities markets
  • Securities regulation
• Keywords reflecting regulatory and market concerns:
  • conduct rule, CR, Financial statements, Futures, futures exchange, insider trading, ISCR, market intermediary, material information, NZX business rule, NZX firm, Securities, Securities markets, Securities regulation, securities regulator

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