Background
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has filed criminal charges against former financial adviser David McEwen, for failing to comply with an FMA stop order, due to concerns he is still contacting potential investors.
Below is a timeline of enforcement activity the FMA has taken against Mr McEwen.
March 2025
The FMA has filed criminal charges against David McEwen for failing to comply with the FMA-issued stop order by continuing to make offers and accept contributions for financial products.
The FMA understands Mr McEwen has lived abroad since November 2023. Mr McEwen has been served with the charges, has entered a not-guilty plea and did not attend Court.
The charges were filed in the Auckland District Court.
FMA files criminal charges against David McEwen
December 2023
The FMA has made a stop order against David McEwen and entities associated with him.
The stop order prohibited him from:
- Making offers, issues, sales or other disposals of McEwen and Associates’ financial products,
- Distributing any restricted communication that relates to an offer of McEwen and Associates’ financial products,
- Accepting further contributions, investments, or deposits in respect of McEwen and Associates’ Financial Products.
The FMA is satisfied that restricted communications made by McEwen and Associates relating to offers of financial products:
- Were false or misleading, or likely to mislead or confuse,
- Contained a material misdescription or material error,
- Did not comply with the Financial Markets Conduct Act 2013 with respect to unsubstantiated claims made as to the value of the McEwen and Associates financial products offered.
FMA makes permanent stop order against David McEwen and entities associated with him
