In a recent decision the New Zealand Court of Appeal has allowed an appeal from a decision of the High Court and in doing so confirmed an earlier decision of the Financial Markets Authority ("FMA") to deregister financial services company Vivier Company Ltd ("Vivier"): Financial Markets Authority v Vivier and Company Ltd [2016] NZCA 197. The approach taken should make it more easier for the FMA to deregister financial service providers who, while they are based in New Zealand, do not provide such service in, or from New Zealand. Read the full decision here. A more robust approach from the FMA may be expected in the future.
NZ Court of Appeal confirms deregistration of financial services company