CHP Group Deputy Chairman and İzmir Deputy Rahmi Aşkın Türeli criticized the Draft Law on Certain Investment Funds Decided to be Liquidated during a press conference at the Grand National Assembly of Turkey (TBMM).
Stating that the proposal will be discussed in the TBMM General Assembly this week, Türeli described the fund crisis as “one of the biggest robberies in Turkish history.” He argued that the crisis reveals the oversight weakness and destruction experienced in the institutions responsible for the functioning of capital markets.
Recalling that Minister of Treasury and Finance Mehmet Şimşek stated on November 4, 2025, that manipulation was carried out through certain funds in the capital markets and that there was a lack of regulation, Türeli said, “He said this on November 4, 2025. Did he do anything? He did nothing.”
Expressing that high value increases were observed in the funds before the crisis, but no intervention was made until the warning of international index providers, Türeli said that the CHP's proposal for the issue to be investigated in Parliament was rejected by the ruling party group.
CRITICISMS OF THE PROPOSAL
Arguing that the proposal accepted in the Planning and Budget Committee does not resolve the problems, Türeli stated that the regulation only focuses on the current fund crisis and that a general and permanent framework should be established to prevent similar crises from occurring again.
Türeli said, “A special regulation has been made here, a regulation only regarding this fund crisis. But a general regulation should have been made, and an environment and structure should have been created where such crises would not emerge in Turkey again. What needed to be done here was to establish an independent institution and equip that institution with full authority.”
Reminding that different institutions such as the Capital Markets Board (SPK), Banking Regulation and Supervision Agency (BDDK), Savings Deposit Insurance Fund (TMSF), Investor Compensation Center, Ziraat Bank, and İş Bank are assigned within the scope of the proposal, Türeli argued that the structure is fragmented and that excessive authority and workload have been given to the SPK. He claimed that if the SPK had fulfilled its supervisory duty on time, the crisis would not have occurred.
Criticizing the “voluntary return” mechanism in the draft law, Türeli said, “These things cannot be voluntary; there is a major robbery at hand.” Stating that there is no such mechanism in the legislation, Türeli said that collection from those who made exorbitant profits should be carried out by the relevant institutions.
Arguing that no action has been taken against the bureaucrats and managers who have responsibility for the emergence of the crisis, Türeli demanded that the process be explained transparently in all its aspects. He claimed that despite statements that no public resources would be used, some transactions were carried out through public institutions.
Criticizing Minister of Treasury and Finance Mehmet Şimşek for not coming to the Planning and Budget Committee, Türeli said that Şimşek should explain why the crisis could not be prevented even though he was aware of the warnings. Stating that “trust in the Minister of Treasury and Finance has disappeared,” Türeli called for Şimşek to resign from his post.
Stating that the fund crisis cannot be handled only within the scope of capital market legislation, Türeli argued that the investigation should be conducted within the scope of organized crime. Describing what happened as a “corporate collapse,” Türeli stated that checks and balances mechanisms should be strengthened.
News Source: 12punto
