The Monetary Authority of Singapore has imposed a 9-year ban on Three Arrows Capital founders Su Zhu and Kyle Davies

ChainCatcher news, according to official sources, the Monetary Authority of Singapore (MAS) has issued a nine-year ban against Mr. Zhu Su and Mr. Kyle Livingston Davies. Both individuals will be prohibited from engaging in any regulated activities and from managing, serving as directors, or becoming major shareholders of any capital markets services company.

The Monetary Authority of Singapore accused Three Arrows Capital of providing false information and failing to notify it of the changes in directorship and shareholding of Mr. Zhu and Mr. Davies, as well as exceeding the asset management limits allowed for registered fund management companies. Furthermore, the Monetary Authority of Singapore found that Three Arrows Capital violated certain SFA and SFR regulations between August 2020 and September 2020.

Loo Siew Yee, Assistant Director of the Monetary Authority of Singapore, stated: "The senior management of fund management companies must implement sound risk management measures to protect the interests of investors. The Monetary Authority of Singapore takes seriously the blatant disregard for regulatory requirements and the misconduct of Mr. Zhu Su and Mr. Davies. The Monetary Authority of Singapore will take action to remove senior management personnel involved in such misconduct."