{"id":63726,"date":"2022-06-30T15:07:39","date_gmt":"2022-06-30T12:07:39","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63726"},"modified":"2025-09-06T10:33:37","modified_gmt":"2025-09-06T07:33:37","slug":"singapore-central-bank-reprimands-three-arrows-capital-for-regulatory-breaches","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/singapore-central-bank-reprimands-three-arrows-capital-for-regulatory-breaches\/","title":{"rendered":"Singapore central bank reprimands Three Arrows Capital for regulatory breaches"},"content":{"rendered":"<p>The Monetary Authority of Singapore (MAS) <a href=\"https:\/\/www.mas.gov.sg\/regulation\/enforcement\/enforcement-actions\/2022\/mas-reprimands-three-arrows-capital-for-providing-false-information-and-exceeding-assets-under-management-threshold\">\u043e\u0431\u044a\u044f\u0432\u0438\u043b\u043e<\/a> a reprimand for Three Arrows Capital (3AC) for providing false information and exceeding the allowed assets under management threshold.<\/p>\n<p>The firm violated the Securities and Futures Act of 2001 and the Securities and Futures Rules. MAS has been examining the matter since June 2021.<\/p>\n<p>The management company licence obtained in August 2013 allowed dealing with up to 30 qualified investors and assets up to 250 million <span data-descr=\"Singapore dollars\" class=\"old_tooltip\">SGD<\/span>.<\/p>\n<p>In fact, 3AC exceeded this threshold on two occasions \u2014 between July and September 2020, and from November 2020 to August 2021.<\/p>\n<p>On 1 September 2021, 3AC transferred management of its sole fund to an offshore company registered in the British Virgin Islands. In February 2022 it resumed management of part of the fund&#8217;s assets. On 29 April, 3AC notified MAS of its intention to wind up the Singapore entity with effect from 6 May 2022.<\/p>\n<p>The company did not disclose that the offshore vehicle and 3AC shared a common shareholder. It also failed to notify MAS in the required timelines about changes in management and ownership.<\/p>\n<p>Earlier this week, the Virgin Islands High Court <a href=\"https:\/\/forklog.news\/smi-sud-virginskih-ostrovov-postanovil-likvidirovat-three-arrows-capital\/\">\u043f\u043e\u0441\u0442\u0430\u043d\u043e\u0432\u0438\u043b \u043b\u0438\u043a\u0432\u0438\u0434\u0438\u0440\u043e\u0432\u0430\u0442\u044c<\/a> \u0445\u0435\u0434\u0436-\u0444\u043e\u043d\u0434 Three Arrows Capital.<\/p>\n<p>In June, the Monetary Authority of Singapore <a href=\"https:\/\/forklog.news\/tsentrobank-singapura-prigrozil-nedobrosovestnym-uchastnikam-kriptoindustrii\/\">\u043f\u0440\u0438\u0433\u0440\u043e\u0437\u0438\u043b<\/a> to crack down relentlessly on violations in the cryptocurrency industry.<\/p>\n<p>Earlier, the regulator in Dubai <a href=\"https:\/\/forklog.com\/en\/news\/dubai-regulator-says-three-arrows-capital-has-no-license-to-operate-in-the-emirate\">said<\/a> that 3AC did not hold a license to operate in the emirate.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Monetary Authority of Singapore (MAS) issued a reprimand to Three Arrows Capital (3AC) for providing false information and exceeding the assets under management threshold.<\/p>\n","protected":false},"author":1,"featured_media":63727,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2207,946,1352],"class_list":["post-63726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-mas","tag-singapore","tag-three-arrows-capital"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/63726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=63726"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/63726\/revisions"}],"predecessor-version":[{"id":63728,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/63726\/revisions\/63728"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/63727"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=63726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=63726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=63726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}