FMA chair Stobo under investigation
Financial Markets Authority chairman Craig Stobo has stepped down pending an investigation.
Friday, December 5th 2025, 6:37PM
The Ministry of Business, Innovation and Employment (MBIE) said it has “commenced an investigation into matters that have been raised about the Financial Markets Authority (FMA) chair."
“Stobo has agreed to temporarily step aside as FMA chair while the investigation is undertaken. He will also step aside from his other Crown governance and advisory responsibilities.”
MBIE will lead an independent investigation into these matters, as the FMA's monitoring department.
MBIE said it would make no further comment until the investigation is complete.
No further details were available.
Stobo is a professional director with experience as a diplomat, economist, chief investment officer and chief executive.
He is currently the chair of the Local Government Funding Agency and the founding director of the Auckland Future Fund.
Stobo is the former CEO of BT Funds Management and has previously held a variety of director and chair roles, including NZ Windfarms, AIG Insurance NZ, Precinct Properties and Fliway Group.
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