National Stock Exchange of Australia, known as the NSX, has agreed to lift compliance and ask tougher questions of its issuers after an ASIC review of NSX listing standards uncovered "a range of concerning practices and trends".
More than half of all listings scrutinised during the assessment had no links to Australia, including no local operations or investors, and in some instances companies recorded "limited" on-market trading in their securities but were being traded off-market in significant volumes.
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Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
