The New Zealand Financial Markets Authority (FMA) has published its annual report reviewing how well Catalist Markets Limited is meeting its obligations as a licensed market operator of the Catalist Public Market. Catalist is licensed under section 316 of the Financial Markets Conduct Act 2013, which requires the FMA to review and report on Catalist’s compliance with licensed market operator obligations at least once a year, with scope to conduct additional reviews at any time. The published report covers the period from 1 April 2024 to 31 March 2025.