Türkiye’s Capital Markets Board (SPK) has filed criminal complaints against 67 people over alleged manipulation in the shares of three Borsa Istanbul-listed companies and has temporarily suspended the activities of a brokerage firm, according to the board’s weekly bulletin dated 6 November, reported by ANKA news agency, Karar and İz Gazete.
The SPK (Sermaye Piyasası Kurulu) is Türkiye’s capital markets regulator.
Three companies, 67 people
The complaints concern trading in the shares of Temapol Polimer Plastik ve İnşaat (ticker TMPOL), İsvea Seramik ve Banyo Ürünleri (ISVEA) and Tera Yatırım Menkul Değerler (TERA). The SPK listed 24 people in connection with Temapol, 22 with İsvea and 42 with Tera Yatırım. Because some names appear on more than one list, the total comes to 67 different people, all three outlets reported.
The complaints were filed under Article 107(1) of the Capital Markets Law, which covers transaction-based market manipulation. A criminal complaint is a referral to prosecutors, not a conviction.
Trading bans and licence cancellations
Everyone on the three lists is banned from trading on the stock exchange and other organised markets for two years, according to ANKA and İz Gazete. Some financial firms face narrower bans covering only trades for their own account: Hedef Portföy Yönetimi in Temapol shares, Tera Yatırım Bankası and Tera Portföy Yönetimi in İsvea shares, and Tera Portföy Yönetimi in Tera Yatırım shares.
The board also cancelled the capital markets licences of people named in separate tables for as long as their trading bans last. These tables list 18 people for Temapol, 9 for İsvea and 28 for Tera Yatırım, with some overlap.
Trive Yatırım suspended
Separately, the SPK temporarily halted all capital markets activities of the brokerage Trive Yatırım Menkul Değerler from 00:01 on Saturday, 7 November, the three outlets reported. None of the outlets reported an end date for the suspension.
Sources
- SPK’den 67 kişi hakkında suç duyurusu, Trive Yatırım’ın faaliyetleri geçici olarak durduruldu (ANKA)
- SPK’dan 67 kişi hakkında suç duyurusu: Aralarında eski bakan da var (Karar)
- SPK’den 67 kişi hakkında suç duyurusu; Trive Yatırım’ın faaliyetleri geçici olarak durduruldu (İz Gazete)
Photo: Thomas Steiner / CC BY-SA 2.5, via Wikimedia Commons
