OECD Corporate Governance Factbook 2025: New Zealand
Table of contents
This Country Note consolidates information published in the 2025 edition of the OECD Corporate Governance Factbook. Along with the summary of recent developments, it provides an overview of New Zealand’s corporate governance framework and related information benchmarked against 51 other jurisdictions covered by the Factbook, including all OECD and G20 members.
The information in this document is as of 31 December 2024 unless otherwise specified.
For further details, please refer to the OECD Corporate Governance Factbook 2025.
In August 2024, the New Zealand Government agreed to amend the Companies Act 1993 to modernise corporate governance legislation, reduce compliance costs, and improve transparency. Key changes include digital processes, implementing a unique identifier for directors, and privacy protections.
In October 2025, the New Zealand Government agreed to make adjustments to New Zealand’s climate-related disclosures regime to lift the reporting threshold for listed issuers, remove managed investment scheme managers from the regime and adjust the liability settings. These changes are intended to ensure that the regime is proportionate for the New Zealand setting and the information being disclosed is fulsome and useful.
In October 2025, the New Zealand Government agreed to amend the Financial Markets Conduct Regulations 2014. The changes introduce detailed asset disclosure categories distinguishing public, private, New Zealand, and international assets. Categories will appear in quarterly reports and in managed funds’ full asset lists on the Disclose Register. The goal is to improve visibility of private asset investment to support informed decision-making by investors and fund managers.
In December 2024, the New Zealand Government agreed to amend the Financial Markets Conduct Regulations 2014 to replace the mandatory two-year prospective financial information for initial public offerings with a voluntary, ‘opt-in’ model allowing issuers to provide prospective financial information for one year in any form. The change reduces compliance costs and aligns New Zealand more closely with Australia while maintaining investor protections.
In March 2025, the Government introduced three bills to reform financial services regulation. The package aims to simplify rules, cut compliance costs, and improve consumer outcomes. It covers credit contracts, market conduct, and service provider registration. The reforms seek more efficient, streamlined regulation. The bills are progressing through the Parliament.
|
No. of listed companies in Dec 2024 |
Change since Dec 2021 |
Market capitalisation in Dec 2024 |
Ratio to GDP |
||
|---|---|---|---|---|---|
|
New Zealand |
96 |
|
-20% |
USD 90 bn |
35% |
|
OECD members |
21 618 |
|
4.3% |
USD 92 518 bn |
136.5% |
|
World |
46 086 |
|
11.3% |
USD 124 536 bn |
112.7% |
Note: “World” covers 98 jurisdictions. “OECD members” covers 38 countries.
Source: OECD Capital Market Series Dataset. IMF.
Note: “World” covers 98 jurisdictions.
Source: OECD Capital Market Series Dataset.
Note: The share of companies in each jurisdiction where the single largest shareholder and the three largest shareholders own more than 50% of the company’s equity capital. “World” covers 98 jurisdictions.
Source: OECD Capital Market Series Dataset.
The categories that the jurisdiction fits into are highlighted in blue.
The bold numbers and words indicate country-specific additional information.
The numbers within parentheses indicate the number of jurisdictions applicable to each category.
For further information on the methodologies used for the categorisations, please see the OECD Corporate Governance Factbook 2025.
* In addition to the requirement, giving notice at least 20 working days before the meeting is recommended.
** Some jurisdictions belong to multiple categories because of the additional requirements other than a percentage of shareholding.
* Jurisdictions where mandatory takeover bid rules exist are included.
** Some jurisdictions belong to multiple categories.
* Some jurisdictions belong to multiple categories.
* In addition to the regulation, there are related provisions in the listing rules.
* Some jurisdictions belong to multiple categories.
* Some jurisdictions belong to multiple categories.