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ARTICLE · 15 MAY 2020

New Regulation: Manipulation And Speculative Transactions In Financial Markets

Esin Attorney Partnership
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The Regulation on Manipulation and Speculation in Financial Markets (the "Regulation") was published on May 7, 2020.

TurkeyFinance and Banking
Muhsin Keskin
Muhsin Keskin
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Recent Development

The Banking Regulatory and Supervisory Authority (the "BRSA") regulated the concept of the manipulation and speculation in financial markets which was brought in the amendments made to the Banking Law No. 5411 (the "Banking Law") in February this year. The Regulation on Manipulation and Speculation in Financial Markets (the "Regulation") was published on May 7, 2020

What's New?

Pursuant to the Regulation, engaging in the following practices of Turkish banks (including the branches of international banks in Turkey) will be deemed manipulation and speculation:

  • Transactions that (i) are or can potentially result in false or deceptive impressions regarding the issuance, demand or price of a financial instrument; or enable or are conducted with the intention of maintaining the price (including exchange rate and interest;) of a financial instrument at abnormal or unnatural levels.

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