13 May 2016
FINANCIAL MARKETS AUTHORITY v VIVIER AND COMPANY LIMITED [2016] NZCA 197
- Citation
- [2016] 3 NZLR 70
- Court
- Court of Appeal
The Court held that under s 18B the FMA must take into account the considerations in s 18A and may, using its specialist knowledge, draw reasonable inferences (including from the absence of meaningful financial services or activity in New Zealand) without registrant‑specific evidence to direct deregistration; the FMA did not breach natural justice by failing to disclose the anonymous complaint or by declining to provide further particulars, and the High Court's quashing of the deregistration was overturned and the deregistration direction restored.
- Deregistration
- Registration of financial service providers
- Natural justice
- Statutory interpretation
- Regulatory enforcement