{"id":588817,"date":"2026-09-03T11:14:10","date_gmt":"2026-09-03T11:14:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/588817\/"},"modified":"2026-09-03T11:14:10","modified_gmt":"2026-09-03T11:14:10","slug":"financial-markets-authority-ceo-samantha-barrass-resigns-while-being-investigated","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/588817\/","title":{"rendered":"Financial Markets Authority CEO Samantha Barrass resigns while being investigated"},"content":{"rendered":"

Barrass wanted to be reinstated to her role while the investigations were underway and complained<\/a> to the Employment Relations Authority.<\/p>\n

The authority hasn\u2019t published a decision on the complaint, but FMA chairman James Miller said the board had agreed to lift Barrass\u2019 suspension now she is leaving. <\/p>\n

Miller said the investigation into Barrass would be subsumed by the broader workplace investigation commissioned by MBIE. He said Barrass would partake in this investigation.<\/p>\n

He did not detail the terms surrounding Barrass\u2019 departure, including whether she would receive a payout. <\/p>\n

However, he said Barrass would travel to Britain to see family and stay on to take part in a governance course, which she was scheduled to attend. The Herald has asked the FMA who is covering the cost of the trip, given Barrass\u2019 resignation took effect immediately.<\/p>\n

Miller said there would be \u201cfarewell events\u201d for Barrass to appropriately recognise her contribution to the organisation.<\/p>\n

More than 50 people contributing to investigation<\/p>\n

A source, who is contributing to the workplace investigation, told the Herald they were \u201cabsolutely disgusted\u201d by the board\u2019s response and dubbed the farewell do a \u201csham\u201d.<\/p>\n

They feared having the investigation into Barrass absorbed by the broader workplace one risked reducing accountability.<\/p>\n

The Herald understands more than 50 people are contributing to the workplace investigation.<\/p>\n

Barrass said: \u201cThe last few weeks have been very challenging for me, as I have found myself on the receiving end of allegations, and where I have had to take time out for them to be investigated. <\/p>\n

\u201cI won\u2019t comment further on them at this stage. That\u2019s for the MBIE investigation process to get to the bottom of, and I trust it will do so.<\/p>\n

\u201cBut I do wish to acknowledge those who have sent me messages of support, inside and outside of the FMA. It has been overwhelming. <\/p>\n

\u201cI also want to personally thank James Miller, the incoming chair, for his open-minded approach to this, and for supporting me to leave with grace and on good terms. I obviously wish him and the \u2018new FMA\u2019 well going forward.\u201d<\/p>\n

Barrass joined the FMA in 2022, having previously been chief executive of Business Banking Resolution Services in Britain, and the Gibraltar Financial Services Commission. <\/p>\n

While overseeing Gibraltar\u2019s financial sector, she took a job on the board of PwC\u2019s UK Public Interest Body, supervising its behaviour. This was regarded as a conflict of interest by some. <\/p>\n

Barrass was also embroiled in a defamation lawsuit with a Gibraltar lawyer after an insurance company he chaired collapsed. The suit was later settled. <\/p>\n

\u201cAt the time of Ms Barrass\u2019 appointment, the FMA board was aware of previous employment matters which were considered as an important part of its due diligence,\u201d the FMA told BusinessDesk. <\/p>\n

Former FMA chairman, who resigned under a cloud, now an NZ First candidate<\/p>\n

In May, FMA chairman Craig Stobo resigned<\/a> after an external investigation into his conduct found he made too many political comments for someone in an apolitical role. <\/p>\n

The review, which was initiated after board members complained to the Commerce Minister about Stobo, revealed cracks in the relationship between Stobo and members of the FMA\u2019s executive, including Barrass. <\/p>\n

It also shed light on a messy conflict between staff, one of whom had just left the FMA and was falsely rumoured to be in a personal relationship with Stobo.<\/p>\n

Stobo has since decided to run as a New Zealand First candidate<\/a> in Botany, the seat held by Prime Minister Christopher Luxon.<\/p>\n

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

Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"Barrass wanted to be reinstated to her role while the investigations were underway and complained to the Employment…\n","protected":false},"author":2,"featured_media":588818,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[534,1124,223867,682,138,3500,34749,2396,1122,1644,106,37601,296,35200,12898,220,111,139,69,23942,18994,17363,67902,6123,17708,2963],"class_list":["post-588817","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-amid","tag-authority","tag-barrass","tag-being","tag-business","tag-ceo","tag-conduct","tag-culture","tag-employment","tag-financial","tag-head","tag-inquiry","tag-into","tag-investigated","tag-investigation","tag-markets","tag-new-zealand","tag-newzealand","tag-nz","tag-regulator","tag-resigned","tag-resigns","tag-samantha","tag-while","tag-workplace","tag-zealands"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/588817","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=588817"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/588817\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/588818"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=588817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=588817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=588817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}