The Financial Markets Authority's chief executive Samantha Barrass is leaving her role immediately, ending a suspension imposed weeks ago amid allegations now being folded into a Government-commissioned investigation.
FMA board chairperson James Miller said Barrass had confirmed to the board an earlier decision not to seek renewal of her term, which expires in January.
Barrass had also told the board she needed to travel to the UK, where her elderly father had been admitted to hospital, and would then stay on for a governance course she was scheduled to attend.
"In those circumstances, the board has agreed with Samantha that she will leave her role now and that her suspension ends," Miller said.
Barrass had been suspended in recent weeks while allegations against her were investigated. An independent inquiry led by Paul Wicks KC will now be absorbed into a separate investigation commissioned by the Ministry of Business, Innovation and Employment (MBIE).
Barrass said she looked forward to taking part in the MBIE process.
"The last few weeks have been very challenging for me, as I have found myself on the receiving end of allegations, and where I have had to take time out for them to be investigated," she said.
"I won't comment further on them at this stage. That's for the MBIE investigation process to get to the bottom of, and I trust it will do so."
Barrass led the regulator for five years and said she felt privileged to have held the role, thanking the board that appointed her.
"It has been a challenging mission reforming and expanding our regulator to become fit for its purpose and positioned for its next era, but it has been equally rewarding."
Alastair Hercus will be as acting chief executive while the board searches for a permanent replacement over coming months.
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