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ARTICLE · 22 MARCH 2017

Turkey Introduces Additional Condition For Determining Market Abuse

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Turkey's Capital Markets Board ("Board") has introduced an extra condition for actions which will be deemed to constitute market abuse.

TurkeyCorporate/Commercial Law

Turkey's Capital Markets Board ("Board") has introduced an extra condition for actions which will be deemed to constitute market abuse. Accordingly, the perpetrator of the action must now also make an order or transaction regarding the capital market instrument, either before or after the allegedly abusive act.

The Communiqué Amending Market Abuse Actions ("Amendment Communiqué") was published in Official Gazette number 29983 on 18 February 2017.

Previously market abuse was simply defined as giving false, wrong, or misleading information, rumors, or making material public disclosures, comments or reports in order to affect the:

  • Prices or values of capital market instruments.

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