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Financial Markets Authority boss quits after probe into political statements

Otago Daily Times Online News·Monday, 4 May 2026·30 days ago
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By Jeremy Rees and Jeffrey Halley of RNZ Financial Markets Authority chair Craig Stobo has resigned after an independent review found his public commentary failed to meet the standards of political neutrality expected of the head of an independent regulator. Minister of Commerce and Consumer Affairs Cameron Brewer accepted Stobo's resignation following the completion of a review into his conduct, led by Wendy Aldred KC. His public submission and remarks on the Treaty Principles Bill were found to be "laudatory" of the government, critical of the opposition and in breach of public service requirements to be impartial. The review cleared Stobo of allegations of an inappropriate relationship with a former staff member and of misuse of FMA travel, but found shortcomings in how he managed conflicts of interest and, critically, in his public political commentary. Three Board members of the FMA had met Minister Brewer over their concerns.…

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