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Financial Service Providers (Registration and Dispute Resolution) Act 2008

Registration - Registration of financial service provider - Application for registration as financial service provider

15C: FMA may prevent registration regardless of whether applicant is otherwise qualified to be registered

You could also call this:

“FMA can stop someone from registering as a financial service provider, even if they meet all other rules”

The Financial Markets Authority (FMA) can tell someone not to register as a financial service provider. They can do this even if the person meets all the other rules to register. The FMA can give this order based on a rule called section 15B. This applies to anyone who is trying to register, no matter if they qualify under another rule called section 13. This means the FMA has the power to stop someone from registering, even if that person seems to fit all the other requirements.

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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=DLM6197832.

Topics:
Money and consumer rights > Banking and loans Business > Industry rules
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"The FMA can stop you from becoming a registered financial service provider"

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"How the Registrar signs you up as a financial service provider"

Part 2 Registration
Registration of financial service provider: Application for registration as financial service provider

15CFMA may prevent registration regardless of whether applicant is otherwise qualified to be registered

  1. The FMA may give a direction under section 15B in relation to an applicant regardless of whether the applicant is qualified for registration under section 13.

Notes
  • Section 15C: inserted, on , by section 15 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34).