FMA didn't disclose KiwiSaver conflict

A relative of then-CEO of the Financial Markets Authority, Rob Everett, worked at Booster. (Image: supplied)

Fri, 18 Mar 2022

The Financial Markets Authority (FMA) did not appropriately manage a conflict of interest that arose during the selection of default KiwiSaver providers, says an independent review.Barrister Kristy McDonald QC was asked by commerce minister, David Clark, to review the disclosure of a conflict of interest held by then-FMA chief executive, Rob Everett.Everett’s wife’s sister’s husband is Gary Scott, the chief financial officer at Booster, one of the KiwiSaver fund managers ultimately chosen to be a default provider.Everett had p...

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