FMA looks into workplace culture concerns ‘as a matter of urgency’; CEO on leave
The New Zealand Financial Markets Authority is investigating internal workplace culture concerns following reports of bullying and leadership issues. CEO Samantha Barrass has taken leave as the board appoints an interim replacement.
Why it matters
Regulatory bodies are expected to maintain high standards of conduct; internal turmoil can undermine public trust in financial oversight.
Financial Markets Authority chief executive Samantha Barrass won't speak at the Financial Services Council conference. Photo / Dean Purcell
The Financial Markets Authority is looking into workplace culture issues “as a matter of urgency”.
Its chief executive Samantha Barrass has gone on leave from today.
The move appears to be prompted by queries made by Stuff, which has published an article quoting multiple anonymous former employees who described concerns about alleged bullying by different managers, workplace culture, leadership and the handling of complaints raised internally.
“The FMA board has recently become aware of cultural concerns at the FMA and is assessing the matters raised as a matter of urgency,” the authority said in a statement.
“During this time, board member Alastair Hercus will step into the role of interim chief executive.”
The rumour mill has been turning for some time over troubles at the FMA.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in