Do you really expect the NZX to check every number that company representatives sign off?
It's quite an interesting dilemma. Because math is not everyone's strong suit, and it is really easy to confuse cents, dollars and decimal points in the margins. (done it myself a few times)
It's quite an interesting dilemma. Because math is not everyone's strong suit, and it is really easy to confuse cents, dollars and decimal points in the margins. (done it myself a few times)
Im sure all (with the exception of the very smart ones) of us have made those sort of mistakes
At the top of every bubble, everyone is convinced it's not yet a bubble.
It's quite an interesting dilemma. Because math is not everyone's strong suit, and it is really easy to confuse cents, dollars and decimal points in the margins. (done it myself a few times)
This seems to be pretty basic stuff. Are the nzx not reviewing these
The process of filing an announcement on the NZX is essentially logging in and the authorised person submits the document.
It is the authorised person's responsibility (and for those filed on behalf of an issuer, also the issuer's responsibility) to ensure that the announcement's are correct and the NZX does not fulfil the role of checking every single announcement.
Worth noting that not all announcements related to a security are filed by the issuer as SSH, takeover and other notices can be filed by other parties and that the NZX can file announcement such as trading halt or suspension notices.
The market surveillance and disciplinary functions of the NZX can require an issuer to issue a correction or where appropriate apply a penalty. There are other regulatory avenues if an announcement is materially misleading or intended to mislead that could be taken by the FMA.
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Originally Posted by x2rider
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