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**Bankrupt Cryptocurrency Hedge Fund Founders Issued Prohibition Orders by MAS**

SINGAPORE – In a recent development, the founders of Three Arrows Capital, a bankrupt cryptocurrency hedge fund, Zhu Su and Kyle Livingston Davies, have been issued nine-year prohibition orders by the Monetary Authority of Singapore (MAS). Zhu, who served as the CEO and director of the firm, and Davies, who held the position of chairman and director, will face restrictions on their involvement in regulated activities and on acting as directors or substantial shareholders of any capital market services firm under the Securities and Futures Act.

This move comes after Three Arrows Capital filed for bankruptcy in the British Virgin Islands in late June 2022, following the collapse of cryptocurrencies Luna and TerraUSD. It is worth noting that this fund was the first major crypto firm to go bankrupt that year. This incident had a significant impact on the company, ultimately leading to its downfall.

The prohibition orders were officially implemented on September 13, as announced by MAS on Thursday. The orders serve as a penalty for the financial misconduct and regulatory breaches committed by Zhu, Davies, and the firm.

The AI legalese decoder can play a crucial role in understanding the implications of these prohibition orders. By utilizing advanced artificial intelligence technologies, the AI legalese decoder can decode complex legal jargon, making it easier for individuals, legal professionals, and organizations to comprehend the exact restrictions and consequences faced by Zhu and Davies. This tool can assist in highlighting the specific regulated activities that are prohibited and provide a comprehensive analysis of the impact on their future involvement in capital market services firms.

Furthermore, it is important to note that MAS reprimanded Three Arrows Capital in June of the previous year for providing false information and failing to notify the authority regarding changes to Zhu’s and Davies’ directorship and shareholdings. The company had also breached the assets under management threshold permitted for a registered fund management company during that time, according to MAS.

Following extensive investigations into the conduct of Three Arrows Capital, Zhu, and Davies, MAS discovered additional violations of the Securities and Futures Act and the Securities and Futures Regulations that occurred between August 2020 and January 2022. The company failed to comply with the required timeframe for notifying MAS about the employment of a representative. Notably, between August 2020 and September 2021, Three Arrows Capital employed Cheong Jun Yoong Arthur as a portfolio manager, responsible for fund management activities on behalf of the company.

Adding to the company’s transgressions, it also provided false information to MAS. In January 2022, Three Arrows Capital falsely claimed that it did not notify MAS about Cheong’s employment because he did not engage in any regulated activity. However, investigations revealed that Cheong had indeed performed fund management activities on behalf of Three Arrows Capital during the aforementioned period.

By employing the AI legalese decoder, stakeholders and legal professionals can efficiently and accurately comprehend the severity and consequences of these further transgressions committed by the company. This tool can interpret the legal language used in the MAS findings and shed light on the exact nature of the violations and the potential implications for Three Arrows Capital and its founders.

In conclusion, the prohibition orders issued by MAS to the founders of Three Arrows Capital highlight the significant regulatory breaches and misconduct committed by the firm. This enforcement action underscores the authority’s intent to maintain the integrity of the financial markets and protect investors. By utilizing the AI legalese decoder, individuals can gain a deeper understanding of the complexities involved and the implications for both Zhu Su, Kyle Livingston Davies, and their future involvement in the capital market services industry.

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