Payment Process and Details for Funds Taken into Liquidation Have Been Clarified
Investor identification, loss calculation, and collection steps regarding funds liquidated by the decision of the Capital Markets Board have been determined.
All details of the new regulation regarding funds taken into liquidation in line with the decisions of the Capital Markets Board have been clarified. In this context, critical processes such as the identification of aggrieved fund investors, updating losses according to inflation, interim payments, and the collection of the assets of those responsible were announced.
Scope of the Regulation and Targeted Funds
This new proposal covers all funds that were taken into liquidation within the framework of the Capital Markets Board's decisions dated September 17, 2026, and whose liquidation process has not yet been completed as of the moment the relevant law enters into force.
Identification of Investors and Loss Calculation
Investors' fund shares and receivables will be determined by comparing the records of the Central Registry Agency, Takasbank, TEFAS, and other relevant institutions with each other. In cases where fund assets are insufficient to cover the receivables, the deposited and withdrawn amounts will be calculated and updated according to the average of CPI and D-PPI changes.
Interim Payment Conditions and Upper Limits
Interim payments of up to 1 million liras can be made to investors who meet the conditions, and this payment will strictly not exceed the investor's net investment amount. In options other than money market funds, the value of fund shares at the end of the previous day will also be applied as an upper limit.
Collection of Assets of Responsible Parties
Collections can be made from individuals who caused losses to the fund money through unlawful transactions, and the SDIF (TMSF) will be able to recover the money removed from the fund from those responsible. Trustees can be appointed for real estate properties, and these assets can be sold without waiting for the outcome of the lawsuit.
Persons Who Cannot Receive Payments and Voluntary Refund
Those determined by the CMB to have engaged in market-disrupting actions, insider trading, or market manipulation will definitely not receive payments. In addition, gains exceeding normal market returns can be refunded voluntarily, but this refund will not eliminate legal liability.