The New Zealand Financial Markets Authority (FMA) has filed criminal charges against former financial adviser David McEwen, alleging he failed to comply with an FMA stop order amid concerns he is still contacting potential investors. The stop order, issued in December 2023 to McEwen and a number of associated entities, prohibited making offers, issues, sales or other disposals of McEwen and Associates’ financial products, distributing restricted communications relating to offers of those products, and accepting further contributions, investments, or deposits in respect of them. The FMA alleges McEwen continued to make offers and accept contributions despite the prohibitions; it also understands he has lived abroad since November 2023, has been served with the charges, entered a not-guilty plea, and did not attend court. The charges were filed in the Auckland District Court, and the FMA urged investors contacted by McEwen or associated entities in relation to financial product offers to report this to the regulator.
New Zealand Financial Markets Authority 2025-03-18
New Zealand Financial Markets Authority files criminal charges against former adviser David McEwen for alleged breach of stop order
The New Zealand Financial Markets Authority has filed criminal charges against former financial adviser David McEwen for allegedly violating an FMA stop order by continuing to make offers and accept contributions for financial products. McEwen, who has been living abroad since November 2023, entered a not-guilty plea and did not attend court, prompting the FMA to urge investors contacted by him or associated entities to report to the regulator.