The legislative proposal regarding investment funds decided for liquidation will be discussed in the TBMM General Assembly today.
According to the report on NTV, with the enactment of the proposal, interim payments of up to 1 million liras can be made to investors who meet the specified conditions from the liquidation assets of the funds. It is planned for the payments to be initiated shortly after the legal process is completed.
PAYMENTS OF UP TO 1 MILLION LIRAS CAN BE MADE TO INVESTORS
According to the legislative proposal, the liquidation processes of investment funds will be carried out by the institutions tasked with liquidation under the supervision and audit of the Capital Markets Board (SPK).
In the interim payments to be made from the liquidation assets of the funds determined by the SPK, the net investment amounts of the investors will be taken as the basis. Investors with a net investment amount of less than 1 million liras will be paid this amount, while those with investments of 1 million liras and above will be paid a maximum of 1 million liras as an interim payment.
The proposal also includes provisions regarding acts within the scope of market-disrupting actions, market abuse, and market fraud. In the event that the aforementioned acts are committed by funds whose liquidation was decided by the SPK's decisions dated September 17, 2026, or are carried out by acting in concert with these funds or with the participation of the funds, no payment will be made from the liquidation and recovery account to persons whose responsibility is determined by the Board.
In investigations regarding acts related to the funds within the scope of the regulation, it will also be possible to seize assets in accordance with the relevant provisions of the Criminal Procedure Code (CMK).
RECOVERED AMOUNTS WILL BE TRANSFERRED TO INVESTORS
Within the scope of the proposal, in cases outside the provisions regarding seized and confiscated assets, the SPK will evaluate the results of the audit and examination along with the liquidation processes.
As a result of this evaluation, the amount of damage or loss for each fund, the real and legal persons who are responsible, and the amounts for which they are responsible will be determined and notified to the Savings Deposit Insurance Fund (TMSF).
The amounts accumulated in the recovery account will be transferred by the TMSF to the institution tasked with liquidation after deducting mandatory expenses. If the liquidation processes have been completed, the aforementioned amounts will be sent to the Investor Compensation Center (YTM) to be paid to the fund shareholders notified by the SPK.
Payments to be made by the YTM will be made according to the investors' participation share ownership ratios in the fund.
The regulation also states that the portfolio management company, which is the founder and/or manager of the fund, will be primarily responsible for the losses.
LEGISLATIVE PROCESS EXPECTED FOR INTERIM PAYMENTS
A statement was made in Ankara following the Economic Coordination Board meeting regarding the liquidation process of the funds. After the meeting held under the chairmanship of Vice President Cevdet Yılmaz, it was reported that efforts regarding the problematic funds are continuing.
The statement included the expression, "Necessary steps are being taken in coordination by our relevant institutions regarding the problematic funds."
It was noted that after the legislative proposal regarding fund liquidation is accepted in the TBMM and becomes law, interim payments will be initiated as soon as possible.
NEW REGULATION BEING PREPARED FOR THE CAPITAL MARKETS LAW
In the Fund Coordination Board, in addition to the current legislative proposal, the preparation of a comprehensive regulation for capital markets also came to the agenda.
With the new draft, which is evaluated separately from the proposal accepted in the Planning and Budget Commission, it is aimed to resolve structural problems in capital markets, strengthen regulatory and supervisory mechanisms, and increase the deterrent effect of sanctions and penalties.
In this context, initial evaluations were made regarding the draft regulation, which envisages permanent and comprehensive changes to the Capital Markets Law.
40.8 BILLION LIRA LIQUIDATION COMPLETED IN 66 INVESTMENT FUNDS
It was announced that since the beginning of the liquidation process, transactions for over 45 thousand people in 66 separate investment funds managed by A1 Portföy Yönetim A.Ş., Bulls Portföy Yönetim A.Ş., and Pardus Portföy Yönetim A.Ş. have been completed.
It was reported that in the process carried out by Ziraat Bank, a total of approximately 40.8 billion liras in kind and cash liquidation transactions were carried out for investors.
With the completion of these transactions, the number of funds in the liquidation process decreased from 131 to 65.
OVER 455 THOUSAND INVESTORS AFFECTED BY THE FUND CRISIS
According to the data announced regarding the funds in the liquidation process, there are 151,247 unique investors in the funds for which Ziraat Bank is responsible for liquidation. It is stated that there are 388,718 unique investors in the 6 funds whose liquidation is being carried out by İş Bank.
While it is stated that the total number of investors affected by the fund crisis is 455,578, it was noted that approximately 350 thousand of the investors have investments of less than 1 million liras in the funds.
85 PEOPLE ARRESTED IN FUND INVESTIGATION
As of October 7, 2026, it was reported that proceedings were initiated against 220 people, including the managers of the problematic fund companies.
While 85 of these people were arrested, arrest warrants were issued for 23 suspects, and a travel ban was imposed on 81 people.
In order to prevent the laundering of proceeds of crime, 21 seizure orders were issued regarding the movable and immovable properties of 63 real and 12 legal persons. In addition, it was reported that the bank accounts, crypto assets, and assets in safe deposit boxes of 67 people and companies were seized.
News Source: 12punto
