FMA puts temporary ban on David McEwan and associates

The interim order will remain in force until Dec 21 while the market conduct regulator assesses whether it should make a permanent stop order against McEwan.

Described variously as a financial writer or analyst, McEwan used to run IRG, now owned by Brent King, which used to produce an annual yearbook on NZX-listed companies, but which now operates as a stock broker.

McEwan's associates included in the temporary ban include Stockfox, Cosmopolitan Holdings, Strategy Services, Fund Administration Services, Digitech 1, Startight Holdings and Innovative Capital.

Stockfox, for example, bills itself as offering “expert help with deciding what shares to buy and when to sell with Stockfox — a virtual share market advisor in your pocket.”