Fund Measures from the Capital Markets Board and the Financial Stability Committee
Following developments around Pusula Portföy and liquidity crunches, authorized institutions took new steps. Bans were imposed on various executives, and trading was suspended in numerous funds.
Following the arrest of Pusula Portföy Chairman of the Board Muhammed Yarız and liquidity problems at fund companies, the Capital Markets Board and the Financial Stability Committee implemented new measures.
Pusula Portföy Process and Liquidity Issues
The process that began with the arrest of Pusula Portföy Chairman of the Board Muhammed Yarız caused widespread repercussions in the financial markets and led to the emergence of liquidity problems in numerous fund companies.
Emergency Meeting of the Financial Stability Committee
Following the sharp declines on Borsa Istanbul, the Financial Stability Committee gathered in an emergency meeting chaired by Treasury and Finance Minister Mehmet Şimşek and put various measures into effect in order to protect stability in the market.
Tera Yatırım Holding and İbrahim Bekçi Decisions
While a travel ban abroad was imposed on Tera Yatırım Holding Chairman of the Board Emre Tezmen, İbrahim Bekçi, who served in four funds within Tera Portföy, was given a two-year trading ban and his license was revoked.
Liquidation of Seven Large Companies and Funds
Following these developments, the Capital Markets Board decided to suspend transactions in a total of 130 funds belonging to seven major companies and initiated the liquidation process for the relevant funds.