NZX Review Report

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Accept [Back](https://www.fma.govt.nz/library/reports-and-papers/ "Reports and papers") 18 June 2026 # NZX Review Report [Share to facebook](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.fma.govt.nz%2Flibrary%2Freports-and-papers%2Fnzx-review%2F) [Share to LinkedIn](https://www.linkedin.com/sharing/share-offsite/?url=https://www.fma.govt.nz/library/reports-and-papers/nzx-review/) [Share to X](https://twitter.com/intent/tweet?text=NZX+Review+Report%3A+https%3A%2F%2Fwww.fma.govt.nz%2Flibrary%2Freports-and-papers%2Fnzx-review%2F) [Share by Email](https://www.fma.govt.nz/subscribe-to-fma-news-and-alerts) [Print this page](https://www.fma.govt.nz/library/reports-and-papers/nzx-review#) [Back to top](https://www.fma.govt.nz/library/reports-and-papers/nzx-review#page-top) The Financial Markets Conduct Act 2013 requires the FMA to carry out a review and report on how well NZX is meeting its licensed market operator obligations. One of the key objectives of these reviews is to ensure that potential conflicts betweenregulatory and commercial functions of NZX, as a self-regulating organisation, are appropriately managed. The FMA may carry out this review at any time, but must do so at least once a year. ### NZX Obligations Review 2026 Findings from the FMA's review of how well NZX is meeting its licensed market operator obligations, for the period 1 January to 31 December 2025. [Download NZX Obligations Review 2026 PDF](https://www.fma.govt.nz/assets/Reports/NZX-Obligations-Review-2026.pdf "This report provides information on the review of NZX undertaken for the period from 1 January to 31 December 2025 (referred to as the review period). ") * * * ### Archive [NZX Obligations Review 2025](https://www.fma.govt.nz/assets/Reports/NZX-Obligations-Review-2025.pdf "This report provides information on the review of NZX undertaken for the period from 1 January to 31 December 2024 (referred to as the review period). ") [NZX Obligations Review 2024](https://www.fma.govt.nz/assets/Reports/NZX-Obligations-Review-2024.pdf "Findings from the FMA's review of how well NZX is meeting its licensed market operator obligations, for the period 1 January to 31 December 2023.") [NZX Obligations Review 2023](https://www.fma.govt.nz/assets/Reports/NZX-Obligations-Review-2023.pdf "Findings from the FMA's review of how well NZX is meeting its licensed market operator obligations, for the period 1 January to 31 December 2022.") [NZX Obligations Review 2022](https://www.fma.govt.nz/assets/Reports/NZX_Obligations_Review_2022.pdf "Findings from the FMA's review of how well NZX is meeting its licensed market operator obligations, for the period 1 January to 31 December 2021.") [NZX Obligations Review 2021](https://www.fma.govt.nz/assets/Reports/210629_NZX-Market-Operator-Obligations-Review-2021.pdf "Findings from the FMA's review of how well NZX is meeting its licensed market operator obligations, for the period 1 January to 31 December 2020") [NZX Obligations Review 2020](https://www.fma.govt.nz/assets/Reports/NZX-Obligations-Review-june20.pdf "Under the FMC Act, we are required to review at least annually how well a licensed market operator is meeting its obligations, and to publish a written report. Broadly, these relate to the areas of operation that are regulatory in nature. Publishing the report provides transparency into our oversight of NZX. This report was published in 2020.") [NZX Obligations Review 2019](https://www.fma.govt.nz/assets/Reports/NZX-Obligations-Review-2019.pdf "Under the FMC Act, we are required to review at least annually how well a licensed market operator is meeting its obligations, and to publish a written report. Broadly, these relate to the areas of operation that are regulatory in nature. Publishing the report provides transparency into our oversight of NZX. This report was published in 2019.") [NZX Obligations Review 2018](https://www.fma.govt.nz/assets/Reports/NZX-Obligations-Review-2018.pdf "Under the FMC Act, we are required to review at least annually how well a licensed market operator is meeting its obligations, and to publish a written report. Broadly, these relate to the areas of operation that are regulatory in nature. Publishing the report provides transparency into our oversight of NZX. This report was published in 2018.") [NZX Obligations Review 2017](https://www.fma.govt.nz/assets/Reports/170629-NZX-Obligations-Report-2017.pdf "This report outlines our annual review of how well NZX is meeting its statutory obligations, and covers the 2016 calendar year.") [NZX Obligations Review 2016](https://www.fma.govt.nz/assets/Reports/NZX-Obligations-Review-2016.pdf) [NZX Obligations Review 2015](https://www.fma.govt.nz/assets/Reports/NZX-Obligations-Review-2015.pdf) [NZX Obligations Review 2014](https://www.fma.govt.nz/assets/Reports/NZX-Obligations-Review-2014.pdf) [NZX Obligations Review 2013](https://www.fma.govt.nz/assets/Reports/NZX-Obligations-Review-2013.pdf) [NZX Obligations Review 2012](https://www.fma.govt.nz/assets/Reports/NZX-Obligations-Review-2012.pdf) [NZX Obligations Review 2011](https://www.fma.govt.nz/assets/Reports/NZX-Obligations-Review-2011.pdf) [Go to top](https://www.fma.govt.nz/library/reports-and-papers/nzx-review#page-top) Aa -+