From the article -
https://www.interest.co.nz/opinion/9...-loopholes-our
FMA in response to his query
“Prior to 2 February 2018, although the FMA was aware of the RBNZ’s concerns, the information was in dispute between CBL and RBNZ. During this period there was insufficient information to be able to contradict CBL’s assessment of its financial position. The purpose of the RBNZ engagement was to substantiate the information being provided by CBL. The FMA engaged with NZX Regulation, who engaged with CBL during this period and CBL confirmed to NZX Regulation that it was in compliance with its continuous disclosure obligations.
"The fact that a listed issuer is engaging with a regulator is not necessarily material information in itself. The materiality of the information depends upon the nature and likely outcomes of that engagement.
What exactly is the FMA obligated to do for the market in NZ?