The New Zealand Financial Markets Authority has published its NZX Obligations Review 2025, reporting on how well NZX met its licensed market operator obligations for the period 1 January to 31 December 2024 under the Financial Markets Conduct Act 2013. The review is intended, in part, to ensure that potential conflicts between NZX’s regulatory and commercial functions as a self-regulating organisation are appropriately managed. The FMA can undertake the review at any time but is required to complete it at least annually.