MBIE confirms investigation into FMA
The Ministry of Business, Innovation and Employment has confirmed it has commissioned an investigation into workplace conduct and culture at the Financial Markets Authority.
Tuesday, August 4th 2026, 4:12PM
MBIE, which is tasked with monitoring the regulator has confirmed it has started an independent investigation into "matters raised in relation to workplace conduct and culture at the FMA."
MBIE has appointed Kristy McDonald KC to lead the investigation.
"We are mindful this is an unsettling situation for FMA staff, and we will ensure the investigation is completed as soon as is reasonable," MBIE says in a press release.
"MBIE will ensure the investigator provides an independent, confidential channel for people to engage with the investigation."
The investigation comes after Chief Executive Samantha Barrass was put on leave last week after "cultural concerns" were raised about how the regulator operated.
This comes hard on the heels of Chairman Craig Stobo resigned over concerns about some of his comments.
For more on what's happening at the FMA read our Weekly Wrap here.
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