Amendments made to NZSX/NZDX Listing Rules

FMA has approved NZX's proposal to amend its NZSX/NZDX Listing Rules to provide for an additional disclosure requirement in annual reports of listed issuers relating to gender diversity. The amended listing rules come into force on 1 December 2012, and will have effect in respect of balance dates falling on or after 31 December 2012. The new listing rules (dated 5 October, 2012) are available on NZX's website here.

The new rules require issuers to provide a quantitative breakdown as to the gender composition of the issuer's board and senior management team, and to compare the figures to those reported for the previous year. In addition, if the issuer has a diversity policy in place, the annual report is to include a statement from the board providing its evaluation of the issuer's performance with respect to its policy. The new rules do not apply to any issuer that does not have any quoted equity securities.

Consultation on draft guidance note on diversity policies and disclosure

NZX has also released a draft guidance note to help companies wanting to develop and implement diversity policies and related measures. Submissions on the draft guidance note from interested parties are requested by NZX by Friday, 23 November. Click here for details.