Singapore authorities reprimand Three Arrows Capital for providing false information

Singapore’s regulatory authority has reprimanded troubled crypto hedge fund Three Arrows Capital for providing false information.The Monetary Authority of Singapore today reprimanded embattled crypto hedge fund Three Arrows Capital, known as 3AC, for providing false information and exceeding the assets under management threshold permitted by the regulatory authority.

In 2013, the authority granted the hedge fund registered status under the conditions that its assets did not exceed S$250 million.the authority says the company breached its AUM threshold between July 2020 and September 2020 and between November 2020 and August 2021. It also reprimanded 3AC for its failure to notify changes to directorships and shareholdings and also failing to notify MAS regarding the common shareholder of 3AC's offshore entity, Su Zhu. Zhu is also the director of 3AC.

MAS added that, since there is speculation that the hedge fund may no longer be solvent, it is assessing whether there were any further breaches of its regulations.. The court appointed financial advisory firm Teneo to handle the liquidation. As a liquidation handler, Teneo’s main job is to protect the assets of 3AC and understand who its creditors are.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.Tom is fintech reporter at The Block. Before joining the team, he was an editorial intern at the FT-backed platform Sifted where he reported on neobanks, payment firms and blockchain startups.

Oof

Ponzi shit

3AC? Never even heard of them. He’s talking about regulated institutions u fer SEC/CFTC purview, striking a monthly NAV, with AUM greater than $100M. Not 3 crypto kids with friend & family money. Lots of people buying stuff with their personal account…

DefiDisputes

cryptounfolded

Where am I and where is he . Is the question

Reprimand. What a fearful sanction.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BVI court orders liquidation of Three Arrows Capital: Sky NewsA court in the British Virgin Islands has ordered the liquidation of Three Arrows Capital, according to a report by Sky News. FrankResearcher 3 liquidated capital (3LC)
Source: TheBlock__ - 🏆 464. / 53 Read more »

Court Reportedly Orders Liquidation Of Crypto Hedge Fund Three Arrows Capital, Threatening More Market TurmoilThe reported insolvency of Three Arrows Capital could plunge an already bearish crypto market even lower. This is good for bitcoin
Source: Forbes - 🏆 394. / 53 Read more »

Three Arrows Capital Ordered Into Liquidation by a Birtish Virgin Islands CourtThree Arrows Capital has been ordered into liquidation by a court in the British Virgin Islands.
Source: Crypto_Potato - 🏆 568. / 51 Read more »

BREAKING: Court Orders Liquidation of Three Arrows CapitalICYMI: a BVI court has ordered the liquidation of Three Arrows Capital $BTC
Source: Utoday_en - 🏆 295. / 63 Read more »

Teneo to handle ‘liquidation’ of Three Arrows Capital, not ‘insolvency’Teneo will handle the “liquidation” of Three Arrows Capital, a person with direct knowledge of the matter told The Block. Yogita_Khatri5 Don’t you mean crypto *borrower*?
Source: TheBlock__ - 🏆 464. / 53 Read more »

Virgin Islands court orders liquidation of crypto hedge fund Three Arrows CapitalThe turmoil that is now affecting the cryptocurrency market was brought further to light when a court in the British... Continue reading
Source: CryptoPanicCom - 🏆 563. / 51 Read more »