NSX engaged PwC to assess the implementation of actions agreed with ASIC in its Report 538 in relation to the listing standards of the NSX for the period 1 July 2013 to 8 August 2016, published 28 August 2017.
In summary PwC concluded that:
- NSX's agreed actions have been implemented as of 15 March 2018;
- NSX's agreed actions are effective as of 15 March 2018; and
- NSX's proposed actions, as documented in its internal action plan and in its latest policies, procedures and guidelines as at 15 March 2018 address the recommendations in ASIC's report.
Ann Bowering, Managing Director and CEO said, "Today represents a significant milestone for NSX as we position ourselves as the challenger listings exchange in the Australian equity capital market.
In July 2016 we committed to an aggressive restructure of NSX, its operations and market access model. At the core of this work has been the delivery of higher standards across the business and a focus and commitment to continuous improvement. I am incredibly proud of the NSX team for their execution of this strategy, and achieving the regulatory expectations, in what was a compressed implementation timeline.
The line in the sand created by PwC's findings will underpin the further development and implementation of our strategies for IPO innovation, lower cost access to capital, and equity capital market reform through competition."
A copy of the report is available at http://www.abnnewswire.net/lnk/944PSV85
About NSX Ltd
Since NSX Ltd (ASX:NSX) was re-established in 2000 it has grown to become Australia's second largest listing stock exchange.
NSX currently has well over a hundred securities listed on its market with a combined market capitalization in the billions. Many companies are seeking a listing exchange that is customer focused, flexible, responsive, innovative, helpful and offers real value for money. NSX is the answer they need. We offer a superior listing solution at a compelling price. NSX does not have a one-size-fits-all listing model and prohibitive cost structure. We offer flexible solutions and believe listed companies should be listened to and respected.
NSX represents a nimble and creative stock exchange with a flexible range of listing and trading solutions offered at a fair price. We help companies throughout the listing process with everything from advice, introductions and marketing through to problem solving and unique tailored solutions.
NSX has many of Australia's largest brokers connected and a network of dozens of adviser firms helping support companies throughout the initial listing and capital raising process, through to ongoing compliance, secondary raising and cross border dual listings.
Head of Business Development
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