The head of the Investment Savings and Insurance Association, Vance Arkinstall, has resigned, saying it's not appropriate for him to continue while he faces charges from the Securities Commission.
Mr Arkinstall is one of six directors of the failed finance firms Dominion Finance Group and North South Finance who have been charged with failing to give investors a true picture of both firms' financial positions.
They are expected to defend the charges.
In a statement on Thursday, Mr Arkinstall said he was disappointed to be leaving his role after 10 years with the association but did not want his personal situation to damage its reputation.
The publisher of Good Returns, Philip Macalister, says Mr Arkinstall had to resign for the sake of the organisation and the reputation of the industry.
Mr Arkinstall will step down at the end of the month.
