SINGAPORE (Oct 10): Kevin Scully, the founder and former CEO of NRA Capital which has been renamed Tayrona Financial, is allowed to remain a shareholder of the financial advisory firm, the Monetary Authority of Singapore announced on Wednesday.

The variation to the original prohibition order (PO) follows an appeal by Scully to the minister in charge of the regulator, deputy prime minister Tharman Shanmugaratnam.

Under the original three-year-long PO which took effect from Dec 18 2017, Scully cannot provide professional financial advice. He is also prohibited from being the substantial shareholder of a financial advisory services firm and cannot manage or act as a director for any such firm.

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