AKP Economic Affairs Department reminds CMB of its legal duties: You can file a criminal complaint

In the section titled "Powers" of the statement, it was stated: "It possesses the authority to impose administrative fines, temporarily suspend operations, or revoke the authorization certificates (licenses) of individuals and institutions that act in violation of the Capital Markets Law and established rules. It files criminal complaints directly with the Office of the Chief Public Prosecutor against suspects who attempt to artificially influence market prices (manipulation) or gain unfair profit through confidential company information (insider trading)."

The AKP Headquarters Economic Affairs Department made a post reminding the public of the duties and powers of the Capital Markets Board (CMB) during a period when developments in investment funds and investigations into capital markets are ongoing.

According to information on the AKP's official website, the position of Head of Economic Affairs is held by Deputy Chairman Nihat Zeybekci. 

CMB's duties listed

In the Economic Affairs Department's post, the CMB was defined as a public institution established to ensure that capital markets operate with trust, transparency, and stability, and to protect the rights and interests of investors.

The post stated that the CMB has standardized the public disclosure processes of companies to ensure that investors can make informed decisions and to ensure transparency in the market. It also highlighted its duty to determine the qualifications of professionals who will work in capital markets and to conduct licensing processes.

The AKP's social media post is as follows:

"CAPITAL MARKETS BOARD (CMB)

It is a regulatory and supervisory public institution with administrative and financial autonomy, established to support the creation of resources for economic growth by investing savings in securities, to ensure that capital markets operate with trust, transparency, and stability, and to protect the rights and interests of investors.

Its duties:

It prepares and puts into effect the basic rules (communiqués and regulations) regarding the functioning of capital markets, financial instruments, and institutions operating in this market.

It standardizes the public disclosure (financial reporting and news announcements) processes of companies so that investors can make accurate decisions and transparency is ensured in the market.

It determines the qualifications of professionals who will take part in capital markets and conducts licensing processes for them.

Its powers:

It possesses the authority to impose administrative fines, temporarily suspend operations, or revoke the authorization certificates (licenses) of individuals and institutions that act in violation of the Capital Markets Law and established rules.

It files criminal complaints directly with the Office of the Chief Public Prosecutor against suspects who attempt to artificially influence market prices (manipulation) or gain unfair profit through confidential company information (insider trading). It exercises the authority to examine applications by companies for public offerings (going public) or the issuance of debt instruments (bonds, etc.), to approve their prospectuses, or to reject requests that do not meet the requirements."

The AKP's social media post is as follows: