New Zealand’s financial watchdog has issued a warning to former clients of David McEwen to scrutinise their bank and credit card statements following complaints of unauthorised charges linked to the ex-financial adviser and his associated entities.
McEwen, who operated various entities and was previously based in Auckland, offered subscription services to clients for a share-tipping service and newsletter.
The Financial Market Authority (FMA) said it had received reports from individuals who believed payments were made on their accounts without consent, some of them up to 10 years after subscribing.
FMA executive director for response and enforcement Louise Unger said former and existing clients of McEwen and associated entities or the newsletter were advised to check their card statements for possible unauthorised payments.
“If a charge has been made to cards without your authority, we advise you contact your credit card company or bank immediately and ask about the possibility of reversing the charge, how to withdraw any expired authorities, and whether it is necessary to cancel any existing cards.
“In general, this serves as a good reminder to anyone with a money card that they should always check their bank and card statements for unauthorised payments.”
The warning comes just months after the FMA filed criminal charges against McEwen in March 2025 for allegedly breaching a Stop Order issued under the Financial Markets Conduct Act.
That order, made in December 2023, prohibited McEwen and his entities from offering financial products, accepting contributions, or distributing promotional material after the FMA found his communications were false, misleading, or materially inaccurate.
Despite the ban, he allegedly continued to make offers and accept contributions for financial products. He was believed to have lived overseas since November 2023.
FMA head of enforcement Margot Gatland said at the time the authority was concerned McEwen was continuing to flout the prohibitions and may be causing potential harm to investors by doing so.
“I strongly recommend that investors contacted by Mr McEwen or entities associated with him, in relation to the offer of a financial product, report it to the Financial Markets Authority.”
