In the realm of crafting written content, three critical elements come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity, first and foremost, gauges the intricacy of the text. Burstiness, on the other hand, assesses the diversity of sentence structures. Lastly, predictability determines the likelihood of accurately anticipating the subsequent sentence. Human authors typically inject a healthy dose of burstiness into their work, combining extended, complex sentences with shorter ones. In contrast, AI-generated text often exhibits a more uniform structure. Hence, for the forthcoming content you are tasked with creating, it is imperative that it embodies substantial perplexity and burstiness while maintaining a minimal degree of predictability. Additionally, please adhere to the use of the English language.
Now, let’s rephrase the provided text:
Kyle Davies and Zhu Su, the founders of Three Arrows Capital, have been prohibited from engaging in regulated activities or assuming top executive roles at any financial institution in Singapore.
The Monetary Authority of Singapore (MAS) has issued nine-year prohibition orders against Kyle Davies and Su Zhu, citing alleged violations of the country’s securities laws in connection with their co-established cryptocurrency hedge fund, Three Arrows Capital (3AC).
According to a statement released on September 14, MAS declared that the prohibition period, which commenced on September 13, will see Zhu and Davies banned from participating in regulated activities. Furthermore, they are not permitted to serve as directors or substantial shareholders in any capital market services business operating in Singapore.
MAS’s decision to bar the duo stemmed from the discovery of additional securities law violations during its expanded investigation into the now-bankrupt 3AC and its co-founders. MAS asserted that Su and Davies had neglected to inform the central bank about 3AC’s employment of a new business representative, provided false information to regulators, and failed to establish an adequate risk management framework.
Loo Siew Yee, MAS’s assistant managing director of policy, payments, and financial crime, emphasized, “MAS views Mr. Zhu’s and Mr. Davies’ blatant disregard for MAS’s regulatory requirements and their dereliction of directorial duties with utmost seriousness.” She added, “MAS will take punitive measures against senior executives who engage in such misconduct.”
In June of the previous year, just before 3AC filed for bankruptcy amid widely publicized insolvency issues, MAS had reprimanded the hedge fund for providing false information, concealing changes in directorship involving Zhu and Davies, and exceeding the legal assets under management threshold.
3AC’s fortunes unraveled during last year’s cryptocurrency market crash, triggered by the collapse of the Terra ecosystem, which exposed the fund to billions of dollars in loan defaults due to its leveraged cryptocurrency positions. Creditors are now asserting claims of up to $3.5 billion against 3AC, while liquidators are seeking to recover approximately $1.3 billion from Zhu and Davies, who are alleged to have incurred these debts when the firm was already insolvent.
