The New Zealand Financial Markets Authority (FMA) has warned former or existing clients of former financial adviser David McEwen and his associated entities, as well as subscribers to the publication McEwen Investment Report, to check their credit and debit card statements after receiving complaints suggesting unauthorised card payments. The FMA advised anyone who identifies a charge made without authority to contact their bank or card provider immediately to ask about reversing the charge, withdrawing any expired authorities and whether it is necessary to cancel existing cards. McEwen previously operated in Auckland and offered subscription services including a share-tipping service and newsletter, with some customers reporting they subscribed up to ten years ago. The regulator also referenced prior action against McEwen and associated entities, including warnings and a Stop Order after finding certain communications relating to offers of financial products were false or misleading or otherwise did not comply with the Financial Markets Conduct Act 2013, and criminal charges filed in March 2025 for allegedly breaching the Stop Order by continuing to make offers and take contributions.
New Zealand Financial Markets Authority 2025-09-15
New Zealand Financial Markets Authority warns clients and subscribers linked to former adviser David McEwen to check for unauthorised card payments
The New Zealand Financial Markets Authority (FMA) has issued a warning to clients of former financial adviser David McEwen and subscribers to the McEwen Investment Report to review their card statements for unauthorised charges, following complaints. The FMA highlighted previous actions against McEwen, including a Stop Order and criminal charges for non-compliance with the Financial Markets Conduct Act 2013.