FMA chief on leave amid urgent review of 'cultural concerns'

The Financial Markets Authority is urgently looking into issues around its workplace culture, with its Chief Executive taking leave from today.In a statement the FMA's Acting Board Chair Steve Bardy said "the FMA Board has recently become aware of cultural concerns at the FMA and is assessing the matters raised as a matter of urgency".Bardy said that Chief Executive Samantha Barrass is on a period of leave from today.He said "that during this time, board member Alastair Hercus will step into the role of interim Chief Executive".The FMA statement appears to have come after a report from Stuff that raised allegations from multiple former employees about workplace culture.Barrass had already announced in May that she would not seek reappointment once her five year term finished in January.The Financial Markets Authority is the country's financial market regulator.