MR No. 2018-04
28 February 2018
The Financial Markets Authority (FMA) today published its refreshed Corporate Governance handbook.
The handbook is being refreshed to remove any unnecessary overlap with the NZX Code, particularly to ensure the NZX Code is the primary source for requirements for listed companies. We have also updated the guide in a number of places to bring it in line with corporate governance developments in New Zealand and globally.
The revised handbook is designed as a guide for a wide range of companies and businesses including those who want to raise capital or list on the NZX in the future.
Simone Robbers, FMA Director of Strategy and Risk said, “The FMA is particularly keen for businesses involved in New Zealand’s financial markets to consider the principles and how they can work towards meeting them.
Adopting the principles in the handbook will provide companies and businesses with a solid base for future growth, value creation, investor confidence and long-term sustainability.”
The handbook is deliberately principles based, rather than a check-list. A one-size-fits-all approach is not appropriate for every business, and for smaller companies the principles provide guidance on areas they can work towards over a period of time.
The FMA will continue to engage with listed companies, the NZX, the Institute of Directors and other interested parties to ensure standards of corporate governance continue to rise.
Ph: 021 702 036
Notes to Editors:
The revised handbook contains updated content in areas including non-financial reporting, environmental and social governance reporting, guidelines on auditor independence and audit committees, transparency of remuneration disclosures and board composition.
The handbook was first published in 2004 and has been updated regularly since.