FMA executive steps down over employment matter
Financial Markets Authority (FMA) executive Garth Stanish left the investment watchdog at the end of last month over an internal employment matter, a spokesman for the authority said.
“Because it is an internal employment matter, we can’t provide any further comment,” the spokesman said.
Stanish was the FMA’s director of capital markets. Before joining the FMA he was head of issuer regulation and an acting head of regulation at NZX. He has previously held positions with Crown Law and Simpson Grierson Law.
In 2017, Stanish commented on conduct in the bank bill market following the High Court judgment against former fund manager Mark Warminger.
Warminger, a former Milford Asset Management portfolio manager, was found guilty of market manipulation in two instances, after an FMA investigation conducted in 2015.
The FMA was set up in 2011 to take over the functions of the then Securities Commission.