The Financial Markets Authority says it will be reviewing its recruitment processes but it's not commenting on the reasons for the departure of an employee who now faces charges of forging his qualifications and then stealing hundreds of thousands of dollars from clients through a fake investment scheme.
Anthony Kiro was employed between September 2014 and January this year, the authority said.
Spokesperson Andrew Park said Mr Kiro was hired through a recruitment agency.
"We take our recruitment procedures very seriously and we are extremely disappointed and concerned by the alleged offending," Mr Park said.
"We believe our procedures to be sensible and proportionate for an entity like ourselves, but we will nonetheless be reviewing them in light of this situation."
