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Financial Service Providers (Registration and Dispute Resolution) Act 2008

Registration - Miscellaneous

41: Offence to make false or misleading representation

You could also call this:

“It's against the law to lie or hide facts when registering as a financial service provider”

You must be careful not to lie or hide important information when you give details about financial services. This is part of the rules for registering as a financial service provider in New Zealand.

If you knowingly tell a lie or leave out important facts in any documents or information needed for registration, you are breaking the law. This includes anything you give to the person in charge of keeping records (the Registrar).

If you are found guilty of breaking this law, you can get in big trouble. If you are an individual person, you might have to go to jail for up to 2 years, or pay a fine of up to $100,000, or both. If you are not an individual (like if you are a company), you might have to pay a fine of up to $300,000.

Remember, it’s very important to always tell the truth and give all the necessary information when dealing with financial service registration.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1109550.

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Business > Industry rules Money and consumer rights > Banking and loans Crime and justice > Criminal law
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Part 2 Registration
Miscellaneous

41Offence to make false or misleading representation

  1. Every person commits an offence who, in any document or information required by or for the purposes of this Part or by regulations (whether or not supplied to the Registrar),—

  2. makes a representation knowing that it is false or misleading in a material particular; or
    1. omits any matter knowing that the omission is false or misleading in a material particular.

      1. A person who is convicted of an offence under subsection (1) is liable on conviction,—

      2. in the case of an individual, to imprisonment for a term not exceeding 2 years or to a fine not exceeding $100,000, or to both; or
        1. in the case of a person who is not an individual, to a fine not exceeding $300,000.

          Notes
          • Section 41(2): amended, on , by section 413 of the Criminal Procedure Act 2011 (2011 No 81).