7. Regulatory role: Aim to operate an open & efficient market
One aim: to keep investors fully informed of company news.
In NZ, Financial Markets Authority: 2014 implementation of Financial Markets Conduct Act that replaces former legislation. Exchanges need rules e.g. If you own more than 5% of a company, it must be disclosed, as must any change in ownership. (+ or -).
Other countries- different rules e.g. UK situation, every transaction made by director of company must be disclosed.