“The change in roles is a response to the enlarged scope and responsibility of NZX’s regulatory role across a very wide and diverse range of market participants,” said Elaine Campbell. “With the added duty of regulating Futures and Options Participants, as well as the expanded role for NZX under the new Discipline and Participant Rules (anticipated to become effective later this year) this responsibility is considerably broadened. In addition, any anticipated increase in market activity will see the role of regulation take up more of NZX’s time on a day to day basis.”
“Clearly, the regulatory function of any national exchange is fundamental to the health and wellbeing of the markets,” said Mark Weldon, NZX CEO. “It is NZX’s core responsibility and one we take very seriously. We also feel a real obligation to our listed issuers and market participants as regards national policy settings. Accordingly, with the proposed review of the Securities Act later this year, as well as issues such as Director and Officer Disclosure and NZX’s own rules, this policy role will require a greater focus.”
Rebecca Cottrell, also of NZX, will assume the role of NZX Corporate Counsel. Rebecca has previously practiced as a corporate and securities lawyer in two of Australia's top law firms, Clayton Utz and Gilbert & Tobin. In 2001, Rebecca moved to New Zealand and worked as a commercial lawyer at Russell McVeagh prior to joining NZX in 2003.
