Davies

<a href="https://bitcoinworld.co.in/singapores-mas-slaps-nine-year-ban-on-3ac-founders-over-securities-law-violations/" title="Singapore’s MAS Slaps Nine-Year Ban on 3AC Founders Over Securities Law Violations." rel="noopener noreferrer nofollow"></a> 
In a shocking development, the Monetary Authority of Singapore (MAS) has dealt a heavy blow to Three Arrows Capital (3AC) founders Kyle Davies and Zhu Su. Consequently, the duo faces a nine-year prohibition for alleged infringements of Singapore’s securities laws. Announced on September 14, this ban comes into effect immediately, starting September 13. 
Significantly, the prohibition restricts Su and Davies from engaging in regulated activities. Besides, they are also barred from managing, acting as directors, or being substantial shareholders in any capital market services business during the nine years. 
The MAS cited multiple reasons for this stringent action. Firstly, Su and Davies should have informed the central bank about employing a new business representative at 3AC. Additionally, they provided false information to the regulatory body. Moreover, they were found to lack an adequate risk management framework, which is a crucial aspect for any financial institution. 
This development is not just a setback for the two founders but also raises questions about the governance standards of fintech companies in Singapore. It’s a wake-up call highlighting the importance of adhering to local financial laws and regulations. Failing to comply can lead to severe repercussions, as seen in the case of 3AC. 
However, this ban also highlights the MAS’s proactive role in safeguarding the integrity of Singapore’s financial markets. Hence, this serves as a warning to other economic players in the industry, urging them to ensure full compliance with the existing laws. 
The nine-year ban is among the longer prohibition orders issued by MAS, indicating the gravity of the violations committed by the 3AC founders. It’s a stark reminder that the financial regulator will not hesitate to take decisive action against any entity that undermines the stability and integrity of the financial system. 
Banning the 3AC founders is more than just a cautionary tale; it clearly indicates that the regulatory body is fully committed to upholding the rules and regulations that protect consumers and market integrity. Therefore, financial institutions must adopt robust risk management frameworks and maintain transparent communications with regulators. 
In summary, the ban on 3AC’s founders is a significant development highlighting strict regulatory compliance’s importance. It sends a strong message to the financial community about the consequences of breaching laws and regulations. 
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The post <a rel="noopener noreferrer nofollow" href="https://bitcoinworld.co.in/singapores-mas-slaps-nine-year-ban-on-3ac-founders-over-securities-law-violations/">Singapore’s MAS Slaps Nine-Year Ban on 3AC Founders Over Securities Law Violations.</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Singapore’s MAS Slaps Nine-Year Ban on 3AC Founders Over Securities Law Violations.

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