The Regulation on Manipulation and Misleading Transactions in Financial Markets (the “Regulation”), which was prepared within the scope of the Law on the Amendments on Certain Laws and Banking Law No.7222 dated 25.02.2020, has been published in the Official Gazette dated May 7, 2020 and numbered 31120 by the Banking Regulation and Supervision Agency (“BRSA”) and entered into force.
As per the Regulation, in order to manage transactions that may have a false or misleading impression regarding the supply, demand or price of a financial instrument, the BRSA aims to consider engaging with these transactions as manipulation and misleading, including mediating them. Besides, involving in such transactions that may alter the price of a financial instrument at an abnormal or artificial level, including exchange rate and interests, will also be considered in the same manner by the BRSA.
Please click here for the official text of the Regulation in Turkish.
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NAZALI TAX & LEGAL |