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Supported

The cited record supports the material proposition.

The Monetary Authority of Singapore said it reprimanded Three Arrows Capital Pte. Ltd. in June 2022 for providing false information to MAS and for exceeding the assets under management threshold for a registered fund management company.

providing false information to MAS
About
Three Arrows Capital Ltd
Claim made by
Monetary Authority of Singapore, regulator statement
Published
30 June 2022
Original
MAS Reprimands Three Arrows Capital for Providing False Information and Exceeding Assets Under Management Threshold
Evidence score
91 How it was scored
Last reviewed
25 October 2026

Why this label

The MAS release states that it reprimanded the Singapore fund manager entity for providing false information and exceeding the assets under management thresholdS2. It describes a false representation that the fund's management had been novated to an unrelated offshore entity, when the firm and that entity shared a common shareholder, Su ZhuS2. It records that the firm went over its allowable S$250 million threshold for a registered fund management company across two periods in 2020 and 2021S2. This is a finding by the regulator, set out in its own enforcement record. The claim tracks the release. The later prohibition orders built on this reprimandS1.

Current procedural position

Reprimand issued by MAS on 30 June 2022S2. Treated as settled regulator action, later followed by the September 2023 prohibition ordersS1.

Record supporting the assessment

for providing false information to MAS and exceeding the assets under management (AUM) threshold
S2 Tier A Monetary Authority of Singapore, MAS Reprimands Three Arrows Capital for Providing False Information and Exceeding Assets Under Management Threshold, 30 June 2022
TAC had represented to MAS that it had novated the management of its fund to an unrelated offshore entity
S2 Tier A Monetary Authority of Singapore, MAS Reprimands Three Arrows Capital for Providing False Information and Exceeding Assets Under Management Threshold, 30 June 2022
TAC exceeded its allowable AUM of S$250 million for a RFMC between July 2020 and September 2020
S2 Tier A Monetary Authority of Singapore, MAS Reprimands Three Arrows Capital for Providing False Information and Exceeding Assets Under Management Threshold, 30 June 2022

Conflicting or limiting record

No record located that conflicts with this assessment.

Evidence score: 91 of 100

The score grades how well the record establishes this assessment. It is not a score of Three Arrows Capital Ltd. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.

ComponentPointsMaxReason
Source authorityIs the source competent to establish the proposition?2930MAS is the regulator that issued the reprimand and set out the facts.
DirectnessDoes the source state the proposition or only discuss adjacent facts?1920The release states the false information and the threshold breach directly.
CorroborationDo independent records support the same material point?1215The 2023 prohibition order release repeats the June 2022 reprimandS1.
Procedural accuracyDoes the record settle the procedural state the claim describes?1215A reprimand is a settled regulator action, a step below the later prohibition orders.
CurrencyHas the record been checked against later developments?1010Checked to October 2026, the reprimand stands and led to the 2023 orders.
ReproducibilityCan a reader locate the passage and repeat the assessment?910The reprimand is public on the MAS enforcement actions page.
Total91100

Timeline

  1. MAS reprimands the fund manager entityS2
  2. Nine-year prohibition orders against the two directors take effectS1

Related cases

Revision history

  • Assessment first published with label Supported.

Have a record that changes this assessment? See corrections and responses.

Sources

  1. S2Tier A MAS Reprimands Three Arrows Capital for Providing False Information and Exceeding Assets Under Management ThresholdMonetary Authority of Singapore. Regulator press release. 30 June 2022.Supports the June 2022 reprimand, the false representation about novation and the S$250 million threshold breach. It does not establish criminal liability.
  2. S1Tier A MAS issues Prohibition Orders against Three Arrows Capital's Zhu Su and Kyle Livingston DaviesMonetary Authority of Singapore. Regulator press release. 14 September 2023.Supports the nine-year prohibition orders, their 13 September 2023 start and the directors' breaches. It is the regulator's own enforcement record.

Other claims about Three Arrows Capital Ltd