NZX - NZ Exchange

[Balance]

The whole bloody thing was an operational error if you ask me. Get your act together NZX. That is an unacceptable output from New Zealand's only stock exchange.

If it was another market participant making the same error, the NZX would be very quick to extract a fine for bringing the exchange into disrepute.

That John "don"Key and his mate, Mark Weldon, have a lot to answer for.

[CJ]

If it was another market participant making the same error, the NZX would be very quick to extract a fine for bringing the exchange into disrepute.

That John "don"Key and his mate, Mark Weldon, have a lot to answer for.

Hard to blame this one on Mark, he resigned a while ago.

[Balance]

Hard to blame this one on Mark, he resigned a while ago.

Left behind a culture of NZX arrogance and self-interest.

His successful lobbying of John donKey to leave the self-regulating of NZX alone was an incredibly selfish and narrow-minded move.

And John donKey was dumb enough to fall for it.

[Silverlight]

Left behind a culture of NZX arrogance and self-interest.

His successful lobbying of John donKey to leave the self-regulating of NZX alone was an incredibly selfish and narrow-minded move.

And John donKey was dumb enough to fall for it.

How is NZX self regulating, doesn't the FMA (ex Securities Commission) regulate NZX and the Securities Act.

[Balance]

How is NZX self regulating, doesn't the FMA (ex Securities Commission) regulate NZX and the Securities Act.

http://www.stuff.co.nz/business/indu...ZX-must-change

Listing rules are by NZX, participants' rules are by NZX, enforcement of said rules is by NZX, disciplinary action is by NZX, fines and penalties are for benefit of NZX but guess what, NZX is itself a listed entity and a market participant!

How confident do you feel about NZX being prosecutor, judge, jury and executioner?

[Silverlight]

http://www.stuff.co.nz/business/indu...ZX-must-change

Listing rules are by NZX, participants' rules are by NZX, enforcement of said rules is by NZX, disciplinary action is by NZX, fines and penalties are for benefit of NZX but guess what, NZX is itself a listed entity and a market participant!

How confident do you feel about NZX being prosecutor, judge, jury and executioner?

Lol even your article link corrects you, discipline is not by NZX, and the fines don't go to NZX. Last time I check they are not a market participant either.

[Under Surveillance]

https://nzx.com/files/attachments/162860.pdf

An apology from Tim Bennett.

Thanks for drawing attention to this, Sparky.
It strikes me as lightweight tosh.
He says "Inadvertently the request asked for personal information that is not required under the Securities Market's Act." You would think that, embarrassed by the ballsup he is trying to explain away, he would at least read what he is signing and be at pains to get the name of the Act correct.

[_Michael]

Thanks for drawing attention to this, Sparky.
It strikes me as lightweight tosh.
He says "Inadvertently the request asked for personal information that is not required under the Securities Market's Act." You would think that, embarrassed by the ballsup he is trying to explain away, he would at least read what he is signing and be at pains to get the name of the Act correct.

And to be able to make grammatically correct sentences??

And to be able to use the market announcements platform to deliver their reports instead of directing shareholders to the company website do get?? Especially when they are selling other participants to use the platform!

I got the letter from the NZX asking me my age how many shares I have etc. I thought it was a scam as surely to goodness after all the forms you need to fill just to buy shares the registry should know your name and how many shares you have.

I do not have any confidence in the new chap. So far his first move has been to add layers of cost in the form of more executive bureaucrat roles - and announce a profit downgrade...

Kind of bummed I did not sell all my shares when Mark Weldon dumped his (always good to follow inside traders, that was the classic pump and dump: "we are confident of our five year forecast of uber-growth" then his shares get dumped, then the profit downgrade - any questions from the FMA? Course not...

Welcome to the wild west

[bunter]

Of all the NZX threads kicking around, this one seems the best to resurrect.

Yesterday NZX announced it had bought Superlife, for up to $35m in shares and cash.

Superlife according to its website runs a funds management business and sells insurance and is involved in 'investments'.

No mention in NZX's announcement of Superlife's prior or forecast profits. It's not clear if NZX has just bought the funds management business, or if it's now into insurance too.

NZX says the purchase will be earnings 'accretive' (word of the moment).

How is an investor supposed to decide if this purchase is a good idea or not?
The info is out there but only some people have it. The rest of us can wait until February 2015 for an update.

NZX is setting a very poor example in terms of keeping investors fully informed.

New management please.

[BFG]

Oh I'm sure we all have more than enough examples to add to this thread!

My biggest right now is the total lack of due diligence done on blatant P&D schemes like Mega/TRS & TRU. Always the same characters as well. You'd think they'd be on a blacklist or something by now...