NZ regulatory authority raises criminal charges against former financial advisor David McEwen

The New Zealand's Financial Markets Authority (FMA) submitted criminal charges against former financial advisor David McEwen because, due to concerns that he still contacted with potential investors, he has met a compliance with an FMA stop order.

The FMA issued Mr. McEwen and a number of companies connected to him in December 2023, which prohibited him:

• Offers, problems, sales or other departures of financial products from McEwen and Associates,
• Distribution of limited communication that relates to an offer of financial products from McEwen and Associates
• Acceptance of further contributions, investments or deposits in relation to the financial products of McEwen and Associates.

'MCEWEN and Associates' Financial Products' was referred to as financial products, among other things by Mr. McEwen or a number of companies associated with it.

The FMA claims that Mr. McEwen could not keep the stop order by continued to accept offers and contributions to financial products.

The supervisory authority understands that Mr. Mcewen has lived abroad since November 2023. Mr. McEwen was delivered with the charges, entered a non -guilty plea and has not attended a court.

The charges were submitted to the Auckland district court.

The companies associated with Mr. McEWen are Stockfox Limited, Cosmopolitan Holdings Limited, Strategy Services Limited, Fund Administration Services Limited, Digitech 1 Limited, M and A Holdings 1 Limited, M and a Holdings 2 Limited, AgTech 2 Limited, Aged, Start Holdings, Innovative Capital LIMITED and McEwen's Limited Partnership.