A regulatory agency in Singapore is hitting the founders of bankrupt crypto hedge fund Three Arrows Capital (3AC) with a nine-year ban a month after they got slapped with a huge fine from authorities in Dubai.
In a new announcement, the Monetary Authority of Singapore (MAS) says that 3AC founders Kyle Davies and Zhu Su are banned for nine years for violating the Securities and Futures Act (SFA) of 2001.
“Under the [prohibition orders], which took effect [on] 13 September 2023, Mr. Zhu and Mr. Davies will be 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.”
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Furthermore, the regulatory agency
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