FMA chair Stobo under investigation
Financial Markets Authority chairman Craig Stobo has stepped down pending an investigation.
The Ministry of Business, Innovation and Employment (MBIE) said it has “commenced an investigation into matters that have been raised about the Financial Markets Authority (FMA) chair."
“Stobo has agreed to temporarily step aside as FMA chair while the investigation is undertaken. He will also step aside from his other Crown governance and advisory responsibilities.”
MBIE will ...MORE»
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Another FAP licence taken away
An adviser collected over $37,000 in upfront commissions obtained through misleading clients, while others overpaid for two same or similar policies.
After being turned into the FMA by the insurer, the FMA has stripped the business of its FAP licence and has referred the matter to the police.
The licence belonged to Hope Group Limited (HGL), a Christchurch-based firm offering personalised risk advice including life and health, income protection, trauma and disability insurance.
The impacted insurer notified the FMA, which reviewed 14 insurance ...MORE»
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Another FAP licence taken awayThursday, November 27th, 9:53AM
An adviser collected over $37,000 in upfront commissions obtained through misleading clients, while others overpaid for two same or similar policies. MORE» |
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