Statement from the CMB following the sharp decline in Borsa Istanbul: 'Criminal sanctions'
The BIST 100 index at Borsa Istanbul closed the day down 2.09 percent at 9,602.16 points. Following the sharp decline, a statement was issued by the Capital Markets Board.
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The BIST 100 index closed the day down 2.09 percent at 9,602.16 points. A statement regarding the initiation of an investigation has been released by the Capital Markets Board (CMB).
The statement announcing that an investigation has been launched included the following remarks:
"Our Board has initiated an investigation into the extraordinary price movements observed in the BIST equity market. The transactions of all institutions are being placed under review by our Board and Borsa Istanbul A.Ş.
In the event that actions and transactions of a nature that would disrupt the operation of the capital market in an environment of trust, transparency, and stability are detected, criminal and/or administrative sanctions will be imposed by our Board against those responsible, within the framework of the provisions of the Capital Markets Law.
Furthermore, our Board has immediately initiated the necessary legal proceedings and investigations regarding those who produce intentional and misleading news that causes unusual price and volume movements, as well as those who disseminate such news."