(Bloomberg) -- Troubled crypto hedge fund Three Arrows Capital was reprimanded by the Monetary Authority of Singapore for providing false information and exceeding the maximum amount of money it was allowed to manage.
The central bank said in a statement on Thursday that Three Arrows had obtained a local registration in 2013 that allowed it to manage up to S$250 million ($180 million), with no more than 30 “qualified investors.”
Three Arrows breached the limit on assets under management from July 2020 to September 2020, and from November 2020 to August 2021, MAS said.
“In light of recent developments which call into question the solvency of the fund managed by TAC, MAS is assessing if there were further breaches by TAC of MAS’ regulations,” the regulator said.
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