Gun for hire company director handed community sentence for FSPR breaches
3 Mar, 2021 04:40 AM
5 minutes to read
Michael Reps, the NZ-based director of Pegasus Markets Ltd, says he wants to pay back his debt to society. Photo / Sam Hurley
Michael Reps, the NZ-based director of Pegasus Markets Ltd, says he wants to pay back his debt to society. Photo / Sam Hurley
A director of a derivatives trading firm has been described as a gun for hire whose actions risked damaging New Zealand s reputation as a safe place to do business. Pegasus Markets Ltd and its NZ-based director Michael Reps were criminally charged in 2018 by the Financial Markets Authority (FMA) with breaching the Financial Service Providers (Registration and Dispute Resolution) Act (FSP Act).