Capital Markets Board Extends Liquidation Period for Investment Funds
Following developments in the market, the Capital Markets Board has decided to extend the period for investment funds under liquidation.
The Capital Markets Board announced that it has increased the maximum liquidation period, previously set at three months, to six months for 131 investment funds currently undergoing liquidation.
New Regulation Made on Liquidation Period
The Capital Markets Board extended the liquidation period, previously determined as three months, to six months for 131 investment funds under liquidation.
The Board's new decision was made by taking into consideration the portfolio structures of the funds subject to liquidation and current market conditions.
Authorized Banks and Process Details
In line with the decision, the maximum three-month liquidation period determined on September 17 was increased to a six-month time frame.
Previously, Türkiye İş Bankası and Ziraat Bankası had been authorized by the Board to manage the liquidation process of 131 funds belonging to 7 portfolio management companies.
Detention Operations in Fund Investigation
New steps were taken within the scope of the investigation conducted by the Istanbul Chief Public Prosecutor's Office regarding fund market shares.
Within the framework of the ongoing investigation, detention procedures were applied to Tera Yatırım Board of Directors members Bülent Uygun and Abdulkadir Özkan.