The Monetary Authority of Singapore (MAS) has just issued nine-year prohibition orders against the two directors of now defunct hedge fund Three Arrows Capital (TAC), Zhu Su and Kyle Livingston Davies.

According to the release by MAS, Zhu Su and Kyle will be prohibited from performing any “regulated activity and from taking part in the management of, acting as a director of or becoming a substantial shareholder, of any capital market services firm” under Singapore’s Securities and Futures Act 2001.

Zhu Su held the position of Chief Executive, while Kyle Livingston Davies served as Chairman of Three Arrows prior to its forced liquidation in June of the previous year. Both individuals also served as directors of the fund.

These prohibition orders were issued by MAS following the regulator’s rebuke of Three Arrows for providing false information to the central bank, failing to inform MAS of changes to Zhu and Davies’ roles as directors and their shareholdings, and surpassing the allowable assets under management limit for a registered fund management company.

Also Read: Su Zhu is in Singapore. Why haven’t the authorities done anything?

Earlier in February, Zhu Su announced the launch of his new exchange and marketplace called OPNX. The platform will be primarily used for trading claims and derivatives related to funds stuck on failed exchanges.

At the moment, it is unclear which jurisdiction OPNX is operating under. From Zhu’s X’s activities, it seems like the prohibition orders from MAS did not dampen his spirit and business seems to be as usual for him.