The NZX and the Financial Markets Authority (FMA) shouldn't have too much trouble raising money from the private sector for their capital markets review should extra funding be required.
As the initiators of the review, the NZX and FMA will jointly fund the initial costs, however depending on the costs for delivery funding may be sought from industry.
Given the level of concern about the overall depth and breadth of New Zealand's capital markets, most market participants are thought to be interested in supporting what will be an industry-led initiative.
"I think we all agree that it's important to participate so we achieve the right outcome and see much healthier capital markets in the future, MinterEllisonRuddWatts partner Silvana Schenone told a gathering in Auckland this week for the release of the law firm's M&A forecast for New Zealand.
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Judging from the nodding audience, getting industry buy in shouldn't be a problem.
The details of what the review will require are still being worked on but it's understood it will involve working groups. Review chairman Martin Stearne has said it was time the industry did a "stock take" on the current state of play.
The review, dubbed "Capital Markets 2029" is designed to deliver a 10-year vision and growth agenda for the sector.
An NZX spokeswoman said the expectation is that contributions from industry into the review will be on a pro bono basis.
"However, we may seek contributions from industry if it was felt that a specialist skill set may be required."
Equity listings on NZX fell by 21 to 138 at the end of December from a year earlier as companies large and small departed the boards. That's down from the 173 equity securities listed in December 2015.