Vivier and Co Ltd, a New Zealand incorporated company, is registered as a financial services provider under the Financial Services Providers Act 2008. But the financial services it provides are to clients outside New Zealand. Mostly in Europe. FMA considered Vivier’s New Zealand registration to be misleading. Particularly as to the extent its services were provided in or from New Zealand or regulated by New Zealand law. It said that was potentially damaging to the reputation of New Zealand’s financial markets. The FMA directed that Vivier be deregistered as an FSP.
FMA files appeal in Court of Appeal against decision of the High Court. The matter is due to be heard by the Court of Appeal on 10 February 2016
Justice Brewer delivered his judgment allowing Vivier’s appeal
Hearing before Justice Brewer in the High Court at Wellington
Vivier filed a Notice of Appeal pursuant to section 42 FSP Act appealing the FMA’s direction to the Registrar of the Financial Service Providers Register that it de-registers Vivier.
Under section 18B FSP Act, the FMA directed the Registrar of the Financial Service Providers Register to de-register Vivier.