About the Panel

The Takeovers Panel is pleased to announce it has signed a Memorandum of Understanding (MoU) with the Financial Markets Authority (FMA). The MoU sets out a framework for engagement and cooperation between the two regulators, taking into account their respective roles, notably:

• In the case of FMA, promoting and facilitating the development of fair, efficient, and transparent markets
• In the case of the Panel, oversight of takeovers and other change-of-control transactions regulated by the Takeovers Code, involving Code companies in New Zealand’s securities markets

Takeovers Panel Chief Executive Margaret Bearsley commented: “The Takeovers Panel and FMA recognise the importance of effective regulation of New Zealand’s securities markets to drive investor confidence in the integrity of those markets.”

The MoU has been published on the FMA and Takeovers Panel websites.

For further information please contact the Panel Executive.