Financial Service Providers (Registration and Dispute Resolution) Act 2008

18A Purpose of FMA’s powers relating to deregistration

The purpose of section 18B is to provide for the deregistration of a person (A) if A’s registration has, will have, or is likely to have the effect of—

(a)

creating, or causing the creation of, a false or misleading appearance with respect to the extent to which A—

(i)

provides, or will provide, financial services in New Zealand; or

(ii)

provides, or will provide, financial services from a place of business in New Zealand; or

(iii)

is, or will be, regulated by New Zealand law in relation to a financial service; or

(b)

otherwise damaging the integrity or reputation of—

(i)

New Zealand’s financial markets; or

(ii)

New Zealand’s law or regulatory arrangements for regulating those markets.

Section 18A: inserted, on 1 July 2014, by section 19 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34).