Vice President Cevdet Yılmaz made a statement regarding the fund crisis that has emerged in capital markets. In his assessment shared on his social media account, Yılmaz noted that the Fund Coordination Board, which he chairs, is continuing its work intensively.
Yılmaz stated that administrative and judicial measures regarding the troubled funds are being implemented in coordination, and that ordinary liquidations are being carried out rapidly. He noted that the necessary legal regulations for extraordinary liquidation are on the Parliament's agenda.
Intensive and multifaceted efforts are being made to ensure that unfair and exorbitant gains are returned to the system and paid out to investors.
SHOULD NOT BE ATTRIBUTED TO THE ENTIRE MARKET
Yılmaz emphasized that it is wrong to present the measures taken regarding problems in specific funds as if they were directed at the entire capital market or funds operating in accordance with the rules. Stating that healthy, functioning funds make up more than 90 percent of the market, Yılmaz said that such perceptions could harm both the system and investors.
Expressing that capital markets are important for economic development, Yılmaz stated that while troubled structures are being liquidated, the general functioning of the market should not be harmed. Yılmaz assessed, "We are acting with an approach that does not harm the body while liquidating diseased structures."
Yılmaz stated that investing in investment funds, stocks, and other capital market instruments is not a crime, emphasizing that disrupting the market through unlawful transactions, fraud, and manipulation is a crime.
"Whoever has engaged in or engages in unlawful transactions must undoubtedly face the consequences," said Yılmaz, noting that protecting companies operating in accordance with the rules, the market as a whole, and investor rights is the joint responsibility of the relevant institutions.
News Source: 12punto
