Institution 13 stories

Capital Markets Board (SPK)

Public body that regulates and supervises capital markets

The Capital Markets Board (SPK) is a regulatory and supervisory public institution with administrative and financial autonomy. It was established in 1981 under Capital Markets Law No. 2499. Its purpose is to channel savings into securities, ensure the capital market operates with confidence and transparency, and protect the rights of savers.

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Mentions over time

16 Sept 19 Sept

The numbers

Day	Mentions over time
16 Sept	1 story
17 Sept	1 story
18 Sept	5 stories
19 Sept	6 stories

Appears with

Latest 13 stories

Fon yöneticisi ve holding patronlarının mal varlıklarına tedbir konuldu — Photo: Tele2 Haber

Economy World press 33 sources 19 Sept, 09:37

Differing figures on number of arrests in capital markets investigation

Justice Minister Akın Gürlek announced that suspects, including a fund management board chairman and members, were arrested over allegations of manipulative trading, and 51 people were banned from leaving the country; access to 246 social media accounts was blocked.

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

Where reports differ

State media and foreign press TRT Haber and DW Türkçe reported in their headlines that a total of 20 suspects were arrested.

Opposition and independent press Tele2 Haber and Bloomberg HT, citing Gürlek's statement, highlighted that 4 suspects were arrested and 51 people were subjected to a travel ban.

Akın Gürlek Istanbul Chief Public Prosecutor's Office Capital Markets Board (SPK) Cybersecurity Directorate

Sermaye Piyasası soruşturmasında tutuklanan Destek Holding’in patronu Altunç Kumova’nın ifadesi ortaya çıktı — Photo: Ekonomim

Economy 19 sources 19 Sept, 19:40

In his testimony, Kumova described his deal with Tera Yatırım over the IPO

Altunç Kumova, the major shareholder of Destek Holding who was arrested in the investigation, said they agreed with Tera Yatırım on a 2% commission for Destek Faktoring's initial public offering (IPO), and that 20% of the IPO was purchased by Tera Group companies and qualified investors. He described the valuation rising to 1.3 trillion lira (TL) as an "abnormal figure."

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

Altunç Kumova Destek Holding Destek Faktoring Tera Yatırım Istanbul Chief Public Prosecutor's Office Capital Markets Board (SPK)

Son Dakika | Destek Yatırım Bankası’nın patronu Altunç Kumova tutuklandı — Photo: Halk TV

Economy 16 sources 19 Sept, 18:46

Destek Investment Bank Chairman Kumova arrested

Altunç Kumova, who was detained on September 17 as part of the Istanbul Chief Public Prosecutor's Office investigation into irregular capital market transactions, was arrested. In the course of the process, the Capital Markets Board (SPK) had ordered the liquidation of 130 funds belonging to 7 companies.

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

Altunç Kumova Destek Investment Bank Istanbul Chief Public Prosecutor's Office Capital Markets Board (SPK) Hedef Holding

Boykot yapanlara ‘vatan haini’ demişti… Fon skandalındaki isim Başbakan danışmanıymış! - Sözcü Gazetesi — Photo: Sözcü

Economy 4 sources 19 Sept, 20:12

Names in Tera management in spotlight after Capital Markets Board liquidates 131 funds

Following the Capital Markets Board (SPK) decision to liquidate 131 funds traded on TEFAS belonging to 7 portfolio management firms, the executives of Tera Portföy and Tera Yatırım are being discussed; Sözcü noted that serving in management does not constitute an accusation of wrongdoing in itself.

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

Capital Markets Board (SPK) Tera Portföy Yönetimi Tera Yatırım Menkul Değerler Emre Alkin Kerem Alkin Abdülkadir Özkan Public Disclosure Platform (KAP)

Bakan Şimşek'ten 'fon krizi' açıklaması: Yapısal bir sorun yok — Photo: Artı Gerçek

Economy World press 25 sources 19 Sept, 07:19

Capital Markets Board begins liquidation of 131 investment funds, Şimşek says "no systemic risk"

The Capital Markets Board (SPK) began liquidating 131 funds under a 17 September decision and appointed İş Bankası and Ziraat Bankası as custodians; the process will be completed within three months at most. Minister Şimşek said the problem stemmed from credit and liquidity issues in a limited number of funds.

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

Capital Markets Board (SPK) Mehmet Şimşek Türkiye İş Bankası Ziraat Bankası TEFAS Financial Stability Committee

WSJ'den Türkiye'deki borsa ve fon krizine dair çarpıcı analiz — Photo: Ekonomi Manşet

Economy 3 sources 19 Sept, 17:56

WSJ assesses Türkiye's investment fund crisis and liquidation of 131 funds

The Wall Street Journal examined the process that began when some funds failed to meet redemption requests and spread to Borsa Istanbul (BIST); the Capital Markets Board (SPK) began liquidation proceedings for 131 funds belonging to seven portfolio management companies.

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

Wall Street Journal Capital Markets Board Borsa Istanbul Pusula Portföy Tera

SPK 131 fonun tasfiye yöntemini açıkladı: Tera fonları İş Bankası’na, diğer altı şirketin fonları Ziraat’e - Serbestiyet — Photo: Serbestiyet

Economy World press 41 sources 19 Sept, 05:05

Capital Markets Board (SPK) assigns İş Bankası and Ziraat Bankası for liquidation of 130 funds

Assets of 130 funds belonging to seven portfolio management companies will be converted to cash, with the process to be completed within three months at most. Treasury and Finance Minister Mehmet Şimşek said, "There is no structural problem in the stock market or the fund market."

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

+10

Where reports differ

State media According to a statement reported by TRT Haber, Şimşek said the problem was limited to a small number of free funds stemming from credit and liquidity issues, that 131 out of 2,038 funds were affected, and that there was no systemic risk.

Opposition press Artı Gerçek wrote that the funds subject to the liquidation decision belong to approximately 550,000 investors and have a total size calculated at around $17 billion (826 billion lira).

Capital Markets Board (SPK) Mehmet Şimşek İş Bankası Ziraat Bankası Tera Portföy Yönetimi TEFAS

Akın Gürlek açıkladı: Borsa manipülasyonu opaerasyonunda 20 tutuklama — Photo: Oda TV

Economy World press 31 sources 18 Sept, 23:18

Gürlek: 20 arrests in capital markets; 40 arrested in fruit-and-vegetable investigation

Justice Minister Akın Gürlek announced that 20 people had been arrested in manipulative trading investigations and that 51 people had been banned from leaving the country. In Istanbul's fresh fruit and vegetable pricing investigation, all 40 suspects referred to court were arrested.

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

Akın Gürlek Justice Ministry Istanbul Chief Public Prosecutor's Office Capital Markets Board (SPK)

Reuters: TCMB, çarşamba günü 5 milyar dolar döviz sattı — Photo: Ekonomim

Economy World press 4 sources 2 updates 18 Sept, 16:58

Public institutions take steps in fund crisis, Central Bank foreign currency sales in focus

The Treasury and Finance Ministry convened the Financial Stability Committee, and the Central Bank (TCMB) raised repo funding to 300 billion lira. According to reports citing Reuters, the Central Bank sold approximately $5 billion on Wednesday; the Turkey Wealth Fund was reported to have made purchases on the stock exchange.

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

Where reports differ

Pro-government press Highlights the simultaneous measures taken by the Treasury, the Central Bank, the Capital Markets Board (SPK) and the banking regulator BDDK, as well as the Turkey Wealth Fund's role as a strong buyer on the stock exchange.

Opposition press Emphasizes the cost of the intervention: citing bankers' calculations, it reports that the Central Bank sold $5-5.2 billion in a single day and that a liquidation decision was made for a fund worth approximately 900 billion lira.

Treasury and Finance Ministry Central Bank (TCMB) Capital Markets Board (SPK) Turkey Wealth Fund Borsa Istanbul (BIST) Emlak Katılım

Tera ve Pusula ile gündeme geldi: Fon krizi nedir, nasıl patladı, son durum ne? — Photo: BirGün

Economy 7 sources 2 updates 18 Sept, 16:58

Funds of seven portfolio companies closed, 131 funds enter liquidation process

On September 17, the Capital Markets Board (SPK) closed the Electronic Fund Trading Platform (TEFAS) funds of Tera, Pusula, Hedef, Atlas, A1, Pardus and Bulls Portföy to buying and selling; according to BirGün's calculations, the 223 funds of these companies total approximately 1.10 trillion lira in size, with 932,000 investors.

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

Capital Markets Board (SPK) Tera Portföy Pusula Portföy İş Bankası Ziraat Bankası Bloomberg

Vakfın yaman çelişkisi: Fetvada başka gerçekte başka — Photo: BirGün

Economy 1 source 19 Sept, 05:48

Religious Affairs Foundation's 2.12 billion lira stake in investment fund becomes subject of controversy

BirGün reported that following the Capital Markets Board (SPK)'s decision to disclose investors holding large shares in investment funds, the Turkey Religious Affairs Foundation's stake in a participation money market fund was 2.12 billion lira; the report referenced the Supreme Council of Religious Affairs' 2022 zakat fatwa.

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

For now only the opposition press is reporting this

Turkey Religious Affairs Foundation Capital Markets Board Supreme Council of Religious Affairs BirGün

SPK’dan fon piyasasına sert müdahale: 7 şirketin TEFAS işlemleri durduruldu, 130 fon tasfiye edilecek — Photo: Karar

Economy 29 sources 2 updates 17 Sept, 12:26

Capital Markets Board halts trading of 7 portfolio companies' funds on TEFAS

The Capital Markets Board (SPK) suspended buying and selling of funds managed by Tera, Pusula, Hedef, Atlas, A1, Pardus and Bulls Portföy on TEFAS; according to ForInvest data, a liquidation decision was taken for 130 funds, and the equity ratio for margin trading was lowered to 20%.

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

Capital Markets Board (SPK) Borsa Istanbul (BIST) Tera Portföy Yönetimi Pusula Portföy Yönetimi TEFAS

Süper Lig Week 6

#		P	GD	Pts
1	Galatasaray	6	+3	13
2	Beşiktaş	5	+8	12
3	Kocaelispor	6	+3	12
4	Alanyaspor	6	+2	11
5	Trabzonspor	6	+8	10
6	Amedspor	5	+7	10
7	Kasımpaşa	6	+2	10
8	Çaykur Rizespor	5	+1	9
9	Gaziantep FK	6	0	8
10	Fenerbahçe	5	+2	7
11	Çorum FK	6	+1	7
12	Başakşehir	6	-1	7
13	Gençlerbirliği	6	-8	7
14	Konyaspor	6	-4	4
15	Samsunspor	5	-5	4
16	Erzurumspor	5	-9	4
17	Eyüpspor	5	-6	3
18	Göztepe	5	-4	2

This week's matches Week 6

Monday 14 September

FT TSL

Gaziantep FK 0–0 Fenerbahçe

Thursday 17 September

FT UEL

Beşiktaş 4–1 Marseille

Friday 18 September

FT TSL

Kasımpaşa 0–0 Konyaspor

Saturday 19 September

FT TSL

Çorum FK 1–2 Alanyaspor

FT TSL

Kocaelispor 2–0 Gaziantep FK

FT TSL

Başakşehir 4–0 Gençlerbirliği

FT TSL

Trabzonspor 4–0 Galatasaray

Sunday 20 September

Sun 17:00 TSL

Erzurumspor – Samsunspor

Sun 17:00 TSL

Fenerbahçe – Eyüpspor

Sun 20:00 TSL

Amedspor – Beşiktaş

Sun 20:00 TSL

Göztepe – Çaykur Rizespor

Friday 25 September

Fri 21:45 UNL

Türkiye – France

Saturday 26 September

Sat 17:00 UWEC

Minsk – Fenerbahçe

All matches →

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Istanbul Biennial İstanbul Fri 18 Sept, 03:00
Istanbul Modern - Museum Admission İstanbul Sat 19 Sept, 10:00
Watsons Youth Festival İstanbul Sat 19 Sept, 13:00
“Long Saturday at Arter” Combined Pass with Paribu (Concert + Film + Exhibition Admission) İstanbul Sat 19 Sept, 19:00

Earthquakes AFAD

3.9 Fthiotis, Stereá Elláda (Yunanistan) 19 Sept, 09:55
3.4 Sivrice (Elazığ) 19 Sept, 10:03
3.1 Ege Denizi - [05.25 km] Foça (İzmir) 19 Sept, 04:35

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