Audits are Tightening with the Capital Markets Law Amendment
With a new draft prepared following crises in the capital markets, early warning systems are being established and board authorities are increasing.
Following the fund crisis, audits in the capital markets are tightening with planned amendments to the Capital Markets Law. According to the draft, an early warning and automatic action system will be established, mechanisms for investor protection will be increased, and penalties will be multiplied.
Foundations of the New Law Draft
The draft law amendment, projected to consist of approximately 30 articles, is based on three main pillars: investor protection, early intervention by the Capital Markets Board (SPK), responsibility, and deterrent sanctions.
Expansion of SPK Authorities
With the new regulation, the powers of the Capital Markets Board are being expanded, and early intervention criteria are being added for situations such as the healthy functioning of the market being put at risk.
Reporting Obligation and Automatic System
It is planned to expand the scope of the reporting obligation and put into operation an early warning and automatic action system that will reduce the human factor.
Penalties and Liquidation Processes
While the draft raises the lower and upper limits of administrative fines, new principles are introduced to reduce investor grievances in liquidated funds.