{"id":410739,"date":"2026-05-04T04:22:09","date_gmt":"2026-05-04T04:22:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/410739\/"},"modified":"2026-05-04T04:22:09","modified_gmt":"2026-05-04T04:22:09","slug":"financial-markets-authority-chair-craig-stobo-resigns-after-investigation-finds-he-made-inappropriate-political-commentary","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/410739\/","title":{"rendered":"Financial Markets Authority chair Craig Stobo resigns after investigation finds he made inappropriate political commentary"},"content":{"rendered":"<p class=\"wrLLDwyWye\" style=\"display:none\">Last year Stobo was criticised by Green Party co-leader Marama Davidson for making a personal submission to Parliament in support of Act\u2019s controversial Treaty Principles Bill.<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">Aldred noted Stobo\u2019s comments contradicted the FMA\u2019s board-approved M\u0101ori strategy and said his conduct fell well below the expectations of a Crown entity board member.<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">She also pulled Stobo up for questioning, in an external forum, whether there needed to be a mandatory Climate Related Disclosures regime without discussing this with the FMA board first. The FMA oversees this regime.<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">Aldred described commentary Stobo made in the media on various political and economic matters as being \u201claudatory\u201d of the current government.<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">Brewer said Stobo\u2019s resignation was appropriate.<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">\u201cThe FMA\u2019s primary role is promoting and facilitating the development of fair, efficient and transparent financial markets in New Zealand,\u201d he said.<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">\u201cConfidence in the independence and integrity of the regulator, and in its leadership, is fundamental.\u201d<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">Steven Bardy will continue as the FMA\u2019s acting chairman while a process is undertaken to appoint someone permanently.<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">Last year, Stobo also temporarily stood down from his role as chairman of the Local Government Funding Agency, which issues debt on behalf of local councils. <\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">He remains on the agency\u2019s board, but continues to be stood down.<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">More to come &#8230;<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">Jen\u00e9e Tibshraeny is the Herald\u2019s Wellington business editor, based in the parliamentary press gallery. She specialises in government and Reserve Bank policymaking, economics and banking.<\/p>\n<p>Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our <a href=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\">Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"Last year Stobo was criticised by Green Party co-leader Marama Davidson for making a personal submission to Parliament&hellip;\n","protected":false},"author":2,"featured_media":410740,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[74,211316,1124,37432,37462,16103,6650,1644,11424,1360,692,16133,12898,1362,5829,220,111,43,139,69,18154,3109,18994,17363,205,12975,10536,109646,21539,61240],"class_list":["post-410739","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-zealand","tag-after","tag-apolitical","tag-authority","tag-chair","tag-chairman","tag-commentary","tag-craig","tag-financial","tag-finds","tag-having","tag-he","tag-inappropriate","tag-investigation","tag-made","tag-many","tag-markets","tag-new-zealand","tag-news","tag-newzealand","tag-nz","tag-political","tag-public","tag-resigned","tag-resigns","tag-role","tag-sector","tag-someone","tag-stobo","tag-views","tag-voiced"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/410739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=410739"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/410739\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/410740"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=410739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=410739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=410739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}