Craig Stobo Steps Down as FMA Chairman During Investigation

The Ministry of Business, Innovation and Employment has initiated an investigation concerning Financial Markets Authority chairman Craig Stobo. In light of the investigation, Mr. Stobo has agreed to temporarily step down from his role as FMA chair and will also relinquish other Crown governance responsibilities. The Ministry emphasized that it will lead the independent inquiry as the FMA’s monitoring department. Further comments will not be made until the investigation concludes.

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