Why 3AC Is Being Investigated By The SEC And CFTC!
Why 3AC Is Being Investigated By The SEC And CFTC!
Recently, the now bankrupt crypto hedge fund Three Arrows Capital, often known as 3AC, was revealed to be under investigation by regulators for reportedly breaching a number of regulation rules.
The Investigation
According to Bloomberg, both the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) are probing the company to determine a number of things, including whether the hedge fund had violated rules and potentially misleading investors on its balance sheet as well as the fact that the company had actually failed to comply in registering with the two agencies.
Related: 3AC Founders Break Their Silence, Here’s What They Said
This investigation has not been confirmed officially by the SEC or the CFTC but had only been told from two unnamed sources ‘familiar with the matter’, Bloomberg reported.
This news comes months after 3AC’s big fall and bankruptcy, with the founders being nowhere to be seen, having only made their last statement back in July and disappearing again since.
Previously With 3AC
This isn’t the first time the hedge fund has been under investigation by officials, back in June ahead of their bankruptcy filing, the Monetary Authority of Singapore (MAS) reprimanded the company for misleading it with allegedly false information and exceeding its assets under management threshold of $250 million.
Since then however, this news has become the first investigation done on the company by some of the US’ biggest financial regulators.
Related: Mastercard Launch A New Program To Aid Banks Offer Crypto Services to Their Customers
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