"NZX is fully supportive of the BNZ's decision to cover the remainder of the shortfall despite having no obligation to do so at this stage, and believes that such action demonstrates a strong commitment to its customers and a willingness to ensure the integrity of this market is protected," said Mark Weldon, NZX CEO.
NZX will be working with the BNZ to provide any and all resources needed to assist in managing a quick and satisfactory outcome for all affected Access clients.
NZX will also continue to aggressively pursue those parties who have breached its rules through NZX Discipline. NZX is currently investigating any such breaches and collating evidence with a view to bringing them before NZX Discipline.
The Chairman of NZX, Simon Allen said "This is an excellent outcome in difficult circumstances. The decisive action taken by NZX upon becoming aware of the issue, and work subsequent, has helped secure a very positive outcome for Access customers and the market as a whole."
