January 29, 2016

New Zealand: NZX to Revise Corporate Governance Requirements

NZX proposes to implement a corporate governance reporting model that has three levels in 2016: (1)Principles – broad, thematic concepts that are used to organize the more specific materials below them, (2)Recommendations – issuers would be required to comply with these under the revised NZX Code, or explain why not (the model that currently operates in Australia) (3)Best practice commentary – issuers could choose to report against these additional standards if they wish to meet best practice in all areas, or where a commentary is of particular relevance to them or their industry.

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