Plain language law

New Zealand law explained for everyone

Financial Markets Conduct Act 2013

Licensing and other regulation of market services - Issue of licences, conditions, and duration - Expiry, suspension, or cancellation of licences

408: When FMA may suspend or cancel licence

You could also call this:

"When can the FMA stop or cancel your licence?"

Illustration for Financial Markets Conduct Act 2013

The FMA can suspend or cancel a licence for a certain time or until something specific happens. This can happen to you if you ask the FMA to do so in writing. The FMA can also suspend or cancel a licence if they think you have died, are incapacitated, do not exist anymore, or are having money problems. The FMA can also make this decision in accordance with subpart 3. You can have your licence suspended or cancelled in relation to you, a group you are part of, or all of these.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

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=DLM4091590.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
Previous

407: Duration of licence, or

"How long your licence lasts before it expires or gets cancelled"

Next

409: Effect of expiry, suspension, or cancellation of licence on appointments, or

"What happens to your job if your licence expires, is cancelled, or suspended?"

Part 6Licensing and other regulation of market services
Issue of licences, conditions, and duration: Expiry, suspension, or cancellation of licences

408When FMA may suspend or cancel licence

  1. The FMA may suspend (for a specified period or until a specified requirement is met and in relation to the licensee, any authorised body or bodies, or all of them) or cancel a licence—

  2. if the licensee, by written notice, requests the FMA to do so; or
    1. if the FMA is satisfied that the licensee or an authorised body has died, is incapacitated, has ceased to exist, or has become subject to an insolvency event; or
      1. in accordance with subpart 3.