CMB decided to impose a transaction ban and criminal complaint against Pusula Portföy and Tera Portföy managers.
Quick Look
- The Capital Markets Board imposed a two-year trading ban on Pusula Portföy managers and fund managers, including Muhammed Yarız, due to their transactions in Katılımevim and Gündoğdu Gıda shares.
- He also filed a criminal complaint against some fund managers to the public prosecutor's office due to these transactions.
- The same decision was taken for Tera Portfolio manager İbrahim Bekçi.
AI-generated summary
Why It Matters
CMB is the official institution of Türkiye responsible for regulating and supervising the capital market. Pusula Portföy and Tera Portföy are asset management companies actively operating in Türkiye. Katılımevim, Gündoğdu Gıda and Destek Finans Faktoring are companies whose shares are traded on Borsa Istanbul.
The Capital Markets Board (CMB) decided to impose a transaction ban on Pusula Portföy and many fund managers for two years due to the transactions in Katılımevim and Gündoğdu Gıda shares. The board also filed a criminal complaint against some fund managers to the public prosecutor's office.
According to the statement in the CMB's weekly bulletin, a transaction ban was imposed on Pusula Portföy and some fund managers, including Pusula Portföy Chairman Muhammed Yarız, for two years due to the transactions in Katılımevim shares.
The Board also imposed a two-year transaction ban on many Pusula Portföy fund managers due to transactions in Gündoğdu Gıda shares. CMB also filed a criminal complaint with the public prosecutor's office against some Pusula Portföy fund managers due to transactions in Katılımevim and Gündoğdu Gıda shares.
TERA PORTFOLIO MANAGER IS ALSO PROHIBITED
Continuing its inspections, the Board decided to file a criminal complaint with the public prosecutor's office against Tera Portföy fund manager İbrahim Bekçi regarding the transactions in Destek Finans Faktoring shares and to impose a transaction ban on him for two years.
WHAT HAPPENED?
There was a sharp selling wave in Borsa Istanbul on Wednesday, September 16. BIST 100 index completed the day with a decrease of 5.54 percent at 13,122.58 points. As the losses deepened during the day, the circuit breaker also worked.
Liquidity problems in the fund market and investor outflows came to the fore in the selling pressure in the market. It was reported that the liquidity problems experienced in investment funds, especially after the developments originating from Pusula Portföy, increased the sales pressure.
Statements in the user text that the sharp decline occurred directly due to the "Pusula Portfolio crisis", that algorithmic sales and stop-loss orders triggered the collapse, or that what happened was "organized fund manipulation" are not confirmed as definitive facts in existing news sources. For this reason, I did not use them as definitive judgments in the news text.
What to Watch
AI outlook — possibilities, not facts
CMB may impose additional penalties or longer-term bans based on the results of the investigations conducted on Pusula Portföy and Tera Portföy fund managers.
Possible · Within months
Open Questions
- When will the transaction ban begin to be implemented?
- What is the specific nature of the crime stated in the criminal complaint?
- What are the volume and types of transactions carried out by fund managers?
- Which legislation articles are used by the CMB for these decisions?
