Monetary Authority of Singapore (MAS) today issued prohibition orders against Zhu Su and Kyle Davies, co-founders of Three Arrows Capital. Due to contraventions of the Securities and Futures Act 2001 (SFA) and Securities and Futures (Licensing and Conduct of Business) Regulations (SFR), the duo is prohibited from performing any regulated activity and from taking part in the management of, acting as a director of or becoming a substantial shareholder, of any capital market services firm under the SFA.
The orders, which took effect on September 13, 2023, last as long as nine years. According to MAS, through further investigations, the regulator uncovered more contraventions by Zhu Su and Kyle Davies between August 2020 and January 2022, including Failure to notify MAS of the employment of a representative, Provision of false information to MAS, and Failure to have in place appropriate risk management framework.
Stay updated with the most important cryptocurrency news and valuable insights, conveniently delivered to your email every day. Subscribe to the TokenInsight mailing list now!
Prefer social media? Follow us on Twitter, or subscribe to our Telegram channel!
If you have news reports or announcements that you want to reach a wider audience, feel free to email us at news@tokeninsight.com
Three Arrows Capital
Policy and Regulation
