AK Party Shares SPK Duties and Authorities After Fund Crisis

Following the developments that emerged after more than a hundred investment funds belonging to seven portfolio management companies were closed to TEFAS transactions, the official account of the AK Party Department of Economic Affairs shared the duties and powers of the Capital Markets Board with the public.

Statement Made After the Fund Crisis

The closure of over 130 investment funds belonging to seven portfolio management companies, including Pusula Portföy, Tera Portföy, Hedef Portföy, Atlas Portföy, A1 Portföy, Pardus Portföy, and Bulls Portföy, to TEFAS transactions created widespread repercussions in the market.

Establishment Purpose and Characteristics of the Institution

The Capital Markets Board is a regulatory institution with administrative and financial autonomy, aimed at supporting the channeling of savings into securities to generate resources for economic growth, and ensuring confidence and stability in the markets.

Regulatory and Licensing Duties

The institution prepares and enacts basic rules regarding the functioning of capital markets, standardizes public disclosure processes, and carries out the licensing processes for professionals who will take part in the market.

Sanction and Audit Powers

The board, which has the authority to impose administrative fines, suspend activities, and revoke licenses for those who act contrary to the rules, directly files criminal complaints with the Chief Public Prosecutor's Office regarding suspects of manipulation.