Is that error 1016 or 1606?
If it's 1016, then that's an registry error.
ERROR_REGISTRY_IO_FAILED
An I/O operation initiated by the registry failed unrecoverably. The registry could not read in, or write out, or flush, one of the files that contain the system's image of the registry.
If it's "Error 1606: Could Not Access Network Location", then double check the KB886549 Friskeygirl mentioned, especially the AppData key.
Is there any UAC prompt when you install that thing? Whatever, you can try manually elevate the installer by right clicking it and select Run as administrator. But you need admin privilege for that. If your account is just standard user, then you will find it hard to install most games (because the copy protection are usually implemented at the kernel level).
Also, is that MMO old? (seriously why such secrecy?) If it's not that new, then may be putting it under compatibility mode will help.