tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Monday, April 20th, 5:20AM

News

rss
Latest Headlines

FMA files charges against former adviser

The Financial Markets Authority (FMA) has filed criminal charges against former financial adviser David McEwen, for failing to comply with a stop order, due to concerns he is still contacting potential investors.

Tuesday, March 18th 2025, 2:34PM

The FMA issued McEwen and a number of entities associated with him a stop order in December 2023 that prohibited him from:

  • Making offers, issues, sales or other disposals of McEwen and Associates’ financial products,
  • Distributing any restricted communication that relates to an offer of McEwen and Associates’ financial products,
  • Accepting further contributions, investments, or deposits in respect of McEwen and Associates’ Financial Products.

‘McEwen and Associates’ financial products’ was defined to mean, among other things, financial products offered by McEwen or a number of entities associated with him.

The FMA alleges that McEwen failed to comply with the stop order by continuing to make offers and accept contributions for financial products. 

The FMA understands McEwen has lived abroad since November 2023. He has been served with the charges, has entered a not-guilty plea and did not attend Court. 

FMA Head of Enforcement Margot Gatland said: “We are concerned that McEwen is continuing to flout the prohibitions of the stop order and may be causing potential harm to investors in doing so.

"I strongly recommend that investors contacted by McEwen or entities associated with him, in relation to the offer of a financial product, report it to the FMA.”

The charges were filed in the Auckland District Court.

Tags: David McEwen

« KiwiSaver gender gap widest in middle-ageBonds bright spot for active managers in 24 »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • FMA to review CoFI Guidance
    “@ Just an opinion Well said. In terms of advisers having influence on the banks behaviour, I believe the industry does...”
    3 days ago by Amused
  • FMA to review CoFI Guidance
    “Thank you, just an opinion & valkyrie6. Thank goodness, I left the mortgage industry over 10 years ago. Just a question...”
    3 days ago by w k
  • FMA to review CoFI Guidance
    “Just an Opinion: I 100% agree with your comments, all we want as advisers is an even playing field, no more no less.The banks...”
    3 days ago by valkyrie6
  • Special Events Benefits; great for clients and advisers but beware the time limits
    “Claim story time. Several years ago, I had a client who held life and trauma covers with Asteron Life. She had just purchased...”
    4 days ago by Paul Flood
  • FMA to review CoFI Guidance
    “As you say John you haven’t been working in the mortgage advice industry for a while so perhaps it might interest you to...”
    4 days ago by valkyrie6
Subscribe Now

Weekly Wrap

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 3.34 - - -
AIA - Go Home Loans 5.89 4.59 5.09 5.39
ANZ 5.79 ▲5.29 ▲5.89 ▲6.09
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - ▲4.69 ▲5.29 ▲5.49
ASB Bank 5.79 4.59 5.09 5.39
ASB Better Homes Top Up - - - 1.00
Avanti Finance - Near Prime 6.35 - - -
Avanti Finance - Specialised 7.45 - - -
Basecorp Finance 6.35 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 5.94 - - -
BNZ - Rapid Repay 5.94 - - -
BNZ - Std 5.84 4.59 4.89 5.29
BNZ - TotalMoney 5.94 - - -
CFML 321 Loans 3.95 - - -
CFML Home Loans 6.05 - - -
CFML Prime Loans 6.25 - - -
CFML Standard Loans 6.95 - - -
China Construction Bank 6.44 4.85 4.95 4.95
China Construction Bank Special 6.44 5.85 5.95 5.95
Co-operative Bank - First Home Special - 4.49 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 4.99 4.59 5.15 5.39
Co-operative Bank - Standard 4.99 5.09 5.65 5.89
Credit Union Auckland 7.70 - - -
First Credit Union Special - 4.89 5.49 -
First Credit Union Standard 6.49 5.29 5.89 -
Heartland Bank - Online 5.30 5.89 - -
Heartland Bank - Reverse Mortgage 7.99 - - -
Heretaunga Building Society 6.50 5.50 5.65 -
ICBC 5.39 4.49 4.89 5.15
Kainga Ora 5.79 4.59 4.95 5.19
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 5.75 5.49 5.79 6.15
Kiwibank - Offset 5.65 - - -
Kiwibank Special 6.15 4.59 4.89 5.35
Liberty 6.65 6.55 6.22 6.20
Nelson Building Society 6.49 4.69 5.09 -
Pepper Money Near Prime 6.55 - - -
Pepper Money Prime 5.99 - - -
Pepper Money Specialist 8.00 - - -
SBS Bank 5.84 5.09 5.69 5.75
SBS Bank Special - 4.49 5.09 5.15
SBS Construction lending for FHB 3.74 - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo 3.29 3.99 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 7.99 - - -
TSB Bank 6.59 5.29 5.89 6.09
TSB Special 5.79 4.49 5.09 5.29
Unity First Home Buyer special - 3.95 - -
Unity Special 5.79 4.49 4.89 -
Unity Standard 5.79 5.29 5.69 -
Wairarapa Building Society 6.15 4.79 5.19 -
Westpac 5.89 ▲5.29 5.79 5.89
Westpac Choices Everyday 5.99 - - -
Lender Flt 1yr 2yr 3yr
Westpac Offset 5.89 - - -
Westpac Special - ▲4.69 5.19 5.29
Median 5.94 4.69 5.19 5.39

Last updated: 20 April 2026 4:26am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com