The Financial Markets Authority (FMA) in New Zealand has appointed Liam Hunt as interim CEO, replacing Samantha Barrass who is currently on leave. This change comes amid an ongoing review of the workplace culture at the financial regulator.

Barrass, who has led the FMA since 2020, was reportedly placed on leave after a report surfaced detailing alleged cultural issues within the organization. The FMA has confirmed the leave and the interim appointment, stating that the review is being conducted by external advisors to ensure objectivity and thoroughness. The specific details of the cultural concerns have not been publicly disclosed, but the watchdog emphasized its commitment to fostering a positive and productive work environment for its approximately 300 staff members.

The review is expected to examine various aspects of the FMA's internal operations and employee relations. The FMA has assured stakeholders that it remains focused on its regulatory responsibilities during this period of internal review, aiming to address any identified issues proactively to maintain public trust and operational effectiveness.