Three Arrows Co-Founders Zhu Su and Kyle Davies Banned from Business Activities in Singapore

Monetary Authority of Singapore (MAS) today issued prohibition orders against Zhu Su and Kyle Davies, co-founders of Three Arrows Capital. Due to contraventions of the Securities and Futures Act 2001 (SFA) and Securities and Futures (Licensing and Conduct of Business) Regulations (SFR), the duo is 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.

The orders, which took effect on September 13, 2023, last as long as nine years. According to MAS, through further investigations, the regulator uncovered more contraventions by Zhu Su and Kyle Davies between August 2020 and January 2022, including Failure to notify MAS of the employment of a representative, Provision of false information to MAS, and Failure to have in place appropriate risk management framework.

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