A securities lawyer says the Financial Markets Authority may be paying close attention to NZX, because of its dual role as rule maker and rule follower on the stock market.
The FMA has confirmed it is querying the NZX after it made apparently contrasting comments about the performance of its Grain Exchange, a subsidiary company in Australia.
Chapman Tripp partner Roger Wallis says the NZX, like all other listed companies, is subject to rules requiring material information to be disclosed to the market.
He told Checkpoint on Friday that there may be particular scrutiny from the FMA because the NZX is both a stock market operator and market participant.
