Prohibition orders issued vs Three Arrows Capital co-founders: MAS
A nine-year ban was imposed against Zhu Su and Kyle Davies.
The Monetary Authority of Singapore (MAS) issued a nine-year ban against top employees of fund manager, Three Arrows Capital, over contraventions of the Securities and Futures Act 2001 (SFA) and Securities and Futures (Licensing and Conduct of Business) Regulations (SFR).
CEO Zhu Su and Chairman Kyle Davies of Three Arrows Capital were issued with prohibition orders.
Under the orders, which took effect from 13 September 2023, Zhu and Davies will be barred 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 POs also indicated that Zhu and Davies were “primarily responsible for ensuring that TACPL complied with regulatory requirements under the SFA and SFR.”
MAS’ probe also revealed that they had failed to discharge their duties and were responsible for TACPL’s breaches.
As of this writing, the website of Three Arrows Capital is not working. SBR is still looking for possible contacts to contact the company as the location of Davies and Su is unknown.