You cannot say you have a market services licence if you do not actually have one. You also cannot say your market services licence covers a particular service if it does not. This means you must be honest about what your licence allows you to do.

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This page was last updated on 15 July 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091568.

Topics:

Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading

390: When providers of other market services may be licensed, or

"Who can get a licence to provide special financial services?"

392: Meaning of discretionary investment management service and related terms, or

"What is a discretionary investment management service?"

Part 6Licensing and other regulation of market services
Key provisions

391Prohibitions on holding out

A person must not hold out that the person holds a market services licence if that is not the case.
A person must not hold out that the person holds a market services licence that covers a service if that is not the case.