Monetary Authority of Singapore imposes nine-year ban on Three Arrows Capital founders Su Zhu and Kyle Davies

Odaily Planet Daily News Singapore’s financial regulator issued a statement on Thursday stating that it has imposed a nine-year ban on Su Zhu and Kyle Davies, the two founders of the crypto hedge fund Three Arrows Capital, who were blamed for the collapse, prohibiting the two from engaging in any Regulated activities. The pair are also prohibited from managing, serving as directors or being substantial shareholders of any capital markets services company under the Securities and Futures Act. The Monetary Authority of Singapore accused Three Arrows Capital of providing false information and failing to implement an appropriate framework risk management system. Loo Siew Yee, assistant managing director for policy, payments and financial crime at the Monetary Authority of Singapore, said in a statement that the Monetary Authority of Singapore takes seriously Su Zhu and Kyle Davies' blatant disregard of the Monetary Authority's regulatory requirements and their dereliction of duty. (Bloomberg)