Source: Radio New Zealand
David McEwen is due to be sentenced on 14 January. Screenshot / YouTube
Former Auckland financial advisor David McEwen has pleaded guilty to all charges for breaching a banning order imposed by the financial markets regulator.
The Financial Markets Authority (FMA) previously issued warnings about financial products and related advice provided by McEwen and his associated entities.
It issued a stop order against McEwen in 2023, and criminal charges were filed against him in December 2024 for breaching the stop order.
FMA head of enforcement Margot Gatland said the agency continued to recommend investors contacted by McEwen or related entities report it to the FMA.
“Ultimately, confident participation in the financial markets can only exist if an intrinsic level of market integrity exists, which stop order provisions serve to facilitate,” Gatland said.
The FMA also previously told former or existing clients of McEwen or subscribers to his publication “McEwen Investment Report” to check their credit and debit card statements for possible unauthorised payments.
The FMA said it received complaints from his clients suspecting card payments were made without their permission.
McEwen is due to be sentenced on 14 January.
McEwen was a business journalist prior to his investment career, and worked for well-known publications, including the Financial Times, National Business Review and Reuters.
He later founded his advisory firm Stockfox, and was a director of McEwen & Associates.
Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
