NZX and FMA's response to COVID-19

On Friday 20th March NZX and the Financial Markets Authority (FMA) made significant announcements regarding their response to COVID-19. 

NZX announces two class waivers

NZX Regulation announced two class waivers for issuers in response to the challenges posed by COVID-19.

This annoucement will be of interest to those who are considering their capital raising needs in the coming months; and/or facing internal and external pressures that may impact their ability to meet their financial reporting obligations. 

What does the annoucement cover?

• Equity capital raising
• Financial reporting requirements

The FMA provides regulatory relief.

Financial Markets Authority (FMA) provided both:

• an update on the COVID-19 situation and its impact on entities the FMA licenses.
• (with NZX) extended the deadline for financial reporting by two months (giving market participants six months to file their audited financial statements).

Information included in this insight was last updated on 23.03.2020

Please contact your local adviser for specific advice.