5 Articles on the Liquidation and Recovery of Investment Funds Accepted

Five articles regulating the principles regarding the fair and transparent liquidation of investment funds liquidated by the decisions of the Capital Markets Board dated September 17, 2026, the recovery of values unlawfully removed from the fund assets, and payments to be made to investors have been accepted.

In accordance with the relevant provision of the Capital Markets Law, the process for investment funds whose liquidation was decided by the CMB's decisions dated September 17, 2026, and whose liquidation has not been completed by the date of publication of the regulation, has been regulated. It was stated that the liquidation will be carried out by institutions tasked with liquidation under the supervision and audit of the CMB. It was noted that the amounts collected during the process will be included in the liquidation assets after deducting mandatory expenses.

Shareholders who were blocked due to orders transmitted to TEFAS on or before September 17, 2026, but could not be executed due to fund default or failure to announce prices, were also included in the scope of liquidation. While a ceiling of 1 million Turkish Liras was set for interim payments to be made to fund shareholders, it was conveyed that portfolio management companies, and in case of non-collection, real and legal persons whose responsibility is determined, will be held personally liable for values unlawfully removed from the fund assets. The Savings Deposit Insurance Fund (SDIF) was authorized for recovery transactions.