The Ministry of Business, Innovation and Employment has commenced an investigation into matters raised about the chairperson of the Financial Markets Authority.
Craig Stobo has agreed to temporarily step aside from the role while the investigation was undertaken.
"He will also step aside from his other Crown governance and advisory responsibilities," a statement read.
Among those, 1News understands Stobo has been temporarily stood down from his role on the ministerial advisory group for school property.
"MBIE will be leading an independent investigation into these matters as the monitoring department for the FMA. MBIE can make no further comment until the investigation is complete."
Stobo is currently chairperson of the Local Government Funding Agency and founding director of the Auckland Future Fund.
Details of the investigation have not been disclosed.
SHARE ME