The Ministry of Business, Innovation and Employment (MBIE) has launched an investigation into issues reportedly raised concerning Financial Markets Authority chairman Craig Stobo.
“Mr Stobo has agreed to temporarily step aside as Financial Markets Authority (FMA) chair while the investigation is undertaken,” MBIE said in a statement.
Stobo will also temporarily withdraw from his other Crown governance and advisory responsibilities.
“The Ministry of Business, Innovation and Employment (MBIE) will be leading an independent investigation into these matters as the monitoring department for the FMA,” the statement said.
MBIE said it cannot provide additional comments and details until the investigation is complete.
Stobo currently serves as chairperson of the Local Government Funding Agency and is the founding director of the Auckland Future Fund.