The Prime Minister has decided that Sir Douglas Graham will keep his knighthood despite his recent criminal conviction.
Sir Douglas was one of four Lombard Finance directors convicted of making false statements in a company prospectus.

All four appealed their convictions, but were rejected by the Supreme Court last week.
John Key has today announced that after a lot of thought on the matter, he has decided Sir Douglas will keep the Sir in front of his name.
"I took into account the on-going financial hardship that many Lombard investors suffered as a result of the company's collapse. Many people through no fault of their own have lost some, or all of their future financial security and that is an awful position to be placed in," he said.
But Sir Douglas' knighthood was given for his leadership role in treaty settlements and his conviction was not related to this, Mr Key said.
Additionally, it was a strict liability offence, "where dishonest or criminal intent is not required for conviction", and Sir Douglas believed his statements in the company prospectus to be true.
"New Zealand is a better country today because of the work Sir Douglas did as Treaty Negotiations Minister, and my judgment is that he deserves to retain his knighthood," the Prime Minister said.
Hon Bill Jeffries and Lawrence Bryant LVO will also retain their honours.
Around 4400 Lombard Finance investors were owed $127 million at the time of the receivership in April 2008.