Vivier and Company Limited (Vivier)

Vivier and Co Limited (Vivier), a New Zealand incorporated company, was registered as a financial services provider (FSP) under the Financial Services Providers (Registration and Dispute Resolution) Act 2008. But the financial services it provided were 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. The FMA said Vivier’s registration was potentially damaging to the reputation of New Zealand’s financial markets. The FMA directed the Registrar of the Financial Services Provider Register (FSPR) to deregister Vivier.

Timeline

13 May 2016

The Court of Appeal released its decision finding in favour of the FMA and ordering that the direction to deregister Vivier be restored and that costs be awarded to the FMA.

• Download Court of Appeal Judgment PDF

22 October 2015

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

25 September 2015

Justice Brewer delivered his judgment allowing Vivier’s appeal

24 August 2015

Hearing before Justice Brewer in the High Court at Wellington

3 July 2015

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.

29 June 2015

Under section 18B FSP Act, the FMA directed the Registrar of the Financial Service Providers Register to de-register Vivier.