New regulation accepted for pending orders in funds to be liquidated
The legislative proposal adopted in the General Assembly of the Grand National Assembly of Turkey (TBMM) ensures that investors who suffered grievances due to fund orders submitted through TEFAS before September 17 but could not be finalized are included in the liquidation process.
With a motion added to the Bill on Certain Investment Funds Decided to be Liquidated, which was discussed in the General Assembly of the TBMM, a new process has been initiated for investors whose participation shares were blocked due to fund orders submitted via the Turkey Electronic Fund Distribution Platform (TEFAS) on or before September 17, 2026, but could not be finalized.
Within the scope of the new regulation, investors who have blocks in their accounts due to orders submitted until the said date but not finalized will be included in the liquidation process as fund shareholders. These investors will be subject to the liquidation provisions stipulated in the law.
Vice President Cevdet Yılmaz had stated during his budget presentation that advance payments are planned to be initiated shortly after the regulation becomes law. With the adoption of the bill in the General Assembly of the TBMM, the legislative process has been completed. The regulation is expected to be published in the Official Gazette after presidential approval in order to enter into force.
Sources
- bloomberght.com · Link