Türkiye Extends Funds Liquidation Process, Freezes Execs' Assets
6 Articles
6 Articles
The Capital Markets Board (SPK) has amended the procedures and principles regarding investment funds undergoing liquidation. The Board extended the fund liquidation period from 3 months to 6 months, citing market conditions and portfolio structures as reasons. Considering the portfolio structures and market developments of the funds subject to liquidation, the Capital Markets Board (SPK) extended the liquidation period from 3 months to 6 months.…
:: Direct - Turkish authorities have frozen assets of a number of executives of investment companies, including Terra Yatrim, Bosola Holdings, Holding Target and Buls Portfoy, with restrictions on the transfer of their funds...
Ahmet Şık, a TİP (Workers' Party of Turkey) Istanbul MP, brought the growing fund crisis, stemming from the liquidation of 131 investment funds, to the attention of Parliament. Şık also inquired whether information regarding the closure period of the TLY fund, suggesting that Minister of Justice Akın Gürlek, Presidential advisor Hasan Doğan, BTK (Information and Communication Technologies Authority) member and former Deputy Minister of Culture a…
Economy - Economist Hikmet Baydar stated that extending the liquidation period to 6 months could reduce selling pressure on the Istanbul Stock Exchange, but the pressure could continue on excessively overvalued stocks.
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