ENTITY NAME: Vivier and Company Limited
WEBSITE: https://vivierco.com/
EMAIL: [email protected]
REASON FOR WARNING:
The FMA are concerned that materials and information published by Vivier and Company Limited (Vivier) on the internet and on its website have the potential to mislead investors that Vivier provides financial services in New Zealand or from New Zealand. The Court of Appeal decision in 2016 noted that Vivier does not provide financial services in New Zealand or from a place of business in New Zealand.
We also note that statements that claim Vivier is supervised by the Financial Markets Authority are present on its website. We are concerned these statements have the potential to mislead investors on the extent to which New Zealand’s financial markets legislation apply to Vivier or the extent to which Vivier’s operations in New Zealand are regulated.
We note that Vivier is not a registered financial service provider in New Zealand and is not regulated in New Zealand.
The FMA is also concerned that statements on Vivier’s website have the potential to misleadingly inflate the extent to which investors and their investments are protected by virtue of Vivier being incorporated as a company in New Zealand. Being incorporated as a company in New Zealand provides a framework of rules and requirements that offers corporate regulation and not operational regulation.
Despite having been de-registered from being a financial service provider in New Zealand since 2016 and knowing clearly that Vivier is not and was never supervised by the FMA, Vivier has failed to remove and update its website(s) and online publications that contain obsolete, false and misleading information.
It is the responsibility of entities to ensure all its online publications are accurate and not misleading. Failure to do so can be viewed as a deliberate act to mislead investors. FMA is of the view that Vivier has failed.
