While the discussions on the entire fund proposal were completed in the Grand National Assembly of Turkey Planning and Budget Commission, two articles of the proposal were changed with the proposals made by the AK Party. With the regulations, new provisions were introduced regarding the determination of the investors who will get their money back, the amount of their receivables, and the calculation method to be applied in the return of illegal gains.
HOW WILL PAYMENTS TO FUND VICTIMS BE DETERMINED?
According to the first amendment accepted by the Commission, the records of the Central Registry Agency (MKK), Takasbank and other relevant institutions will be compared and the persons who will receive their money back and the amounts to be paid to these persons will be clarified.
The second change covers the calculation of the amounts to be refunded by those who make extraordinary profits through market distortion actions, information abuse and fraud within the scope of the Capital Markets Law.
In the first version of the proposal, it was envisaged that the money to be refunded by the people in question would be calculated based on the payment precedent amount in the funds decided to be liquidated. However, this method was changed with the proposal of the AK Party. According to the new regulation, the calculation will be based on the average of the change rates in the Consumer Price Index (CPI) and Domestic Producer Price Index (D-PPI). Details on how the calculation will be made will be determined by the Capital Markets Board (CMB).
PREPARATIONS FOR NEW AMENDMENTS IN CMB LAW
AK Party Samsun Deputy Ersan Aksu, one of the first signatories of the proposal, announced that there were preparations for a new amendment to the Capital Markets Law during the discussions in the commission.
Aksu stated that CMB and relevant organizations are carrying out legal studies and said that the regulation will be on the agenda after the new year, after the budget negotiations. Aksu stated that the new study will be prepared in a way that will enable the CMB to have a stronger structure.
Aksu, pointing out the planned regulation in the Capital Markets Law as well as the fund proposal discussed in the commission, also made evaluations regarding the effective regret provisions.
Stating that there is no effective repentance regulation in the current proposal, Aksu said that the aim is for everyone who commits a crime to be rewarded for their actions. Aksu noted that if the necessary conditions are met during the judicial process, effective regret provisions related to payments may come to the fore, and that this depends on the evaluation of the judiciary.
MASAK REQUESTED ASSET INFORMATION FROM 29 COUNTRIES
Deputy Minister of Treasury and Finance İsmail İlhan Hatipoğlu, in his statement to the commission, stated that it was evaluated that extraordinary liquidation processes were needed in order for investors to regain their rights as soon as possible.
Hatipoğlu also gave information about the international studies carried out by the Financial Crimes Investigation Board (MASAK). Explaining that MASAK made a total of 48 separate requests from 29 different countries, Hatipoğlu stated that asset information of 278 real and legal persons was requested.
Stating that the process of bringing the assets in question to Türkiye is being followed closely in coordination with the institutions and judicial authorities of the relevant countries, Hatipoğlu stated that the work is being carried out meticulously.
MASAK CHAIRMAN RESPONDED TO CRITICISMS
MASAK President Hasan Kaymak also responded to the criticisms of opposition MPs in the commission.
Kaymak stated that it is not possible for all financial transactions to be examined by MASAK in advance and said that there is no practice such as applying to the institution before a transaction is made and carrying out the transaction according to the results of the research.
Touching on the responsibilities of banks and intermediary institutions regarding suspicious transaction reports, Kaymak stated that the relevant institutions may not make a notification if they have no suspicion that a transaction is illegal.
Borsa Istanbul General Manager Korkmaz Enes Argun stated that they made the necessary notifications regarding the issue to the CMB and said that they, as Borsa Istanbul, fulfilled their responsibilities.
TWO NAMES WERE SELECTED FOR KVKK MEMBERSHIPS
On the other hand, elections were held for two vacant memberships in the Personal Data Protection Board (KVKK) at the General Assembly of the Turkish Grand National Assembly.
As a result of the election held at the General Assembly, Recep Keskin and Cennet Alas Şekerbay were elected as members of the Personal Data Protection Board.
