28 Jan 2021

Financial watchdog issues scathing report on NZX

From Nine To Noon, 9:32 am on 28 January 2021
NZX in Auckland.

Photo: 123RF

The government financial regulator has strongly criticised the stock exchange for being ill prepared and slow to react to last year's cyber attacks. Trading on the NZX was halted for four days last August after heavy cyber attacks disrupted its website. A review by the Financial Market Authority says the NZX didn't have adequate technology, systems or trained staff to cope with the denial of service attacks which overwhelmed the NZX site. It says the NZX didn't meet its obligations to ensure a properly functioning market. Kathryn speaks with FMA Chief Executive Rob Everett.