Investigation into conduct and culture at the Financial Markets Authority
Published: 04 August 2026
As the monitoring department for the Financial Markets Authority (FMA), the Ministry of Business, Innovation and Employment (MBIE) has started an independent investigation into matters raised in relation to workplace conduct and culture at the FMA.
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The FMA Board is supportive of an investigation. 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.
Contacting the investigator
People with an interest in the investigation can contact Kristy McDonald KC directly.
Email: kmcdonald@kmkc.nz
This email address is independent of both the FMA and MBIE, and the information people share will not be seen by either organisation.
Ms McDonald is a Wellington-based senior King’s Counsel who works from Hawkestone Chambers. She will directly advise participants of the process to be followed as the investigation unfolds.
The FMA has advised that it has waived any confidentiality obligations contained in settlement agreements for former staff, only for the purpose of their participation in the investigation.
We can make no further comment until the investigation is complete.
MBIE media contact
Email: media@mbie.govt.nz
https://www.mbie.govt.nz/about/news/investigation-into-conduct-and-culture-at-the-financial-markets-authority
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