NZX Appoints David Flacks as RGC Chair Amid Season of Changes

It has been a season of changes at NZX, the only registered securities Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term in New Zealand. It has announced the appointment of David Flacks as the independent chair of its Regulatory Governance Committee (RGC). This follows the addition of Frank Aldridge to its board and the departure of its CFO Bevan Miller.

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Mr Flacks will replace the committee’s current chair, Derek Johnston, from 1 September 2017 when Derek’s term expires. The RGC assists the NZX in fulfilling its regulatory requirements in the various markets that it deals with.

On the appointment, NZX Chairman James Miller said: “I would like to welcome David to the committee. He brings a wealth of experience and integrity to the role, which will continue to ensure we operate fair, orderly and transparent markets.”

He added: “Derek has come to the end of his term as Chair and I would like to thank him for his longstanding commitment to NZX, and the outstanding job he has done chairing this committee.”

Mr. Flacks currently serves as chair at AFT Pharmaceuticals and Upside Biotechnologies. As far as his financial experience goes, he has been director at both Vero Insurance Limited and NZ Venture Investment Fund.

He is a corporate lawyer by profession and a director of specialist corporate law firm Flacks & Wong. It is this experience which NZX is likely to find most useful when dealing with regulatory requirements.