The Turkish Capital Markets Board is the financial, regulatory
and supervisory agency where the Turkish Finance Ministry appoints
its board. The Capital Market Law is passed for the regulation and
supervision of the capital markets for ensuring the functioning and
development via the security, transparency, efficiency, stability
and in fairness and competitive environment together with
protecting the investors' rights and interest.
The Turkish financial framework has a sub-divided regulatory
structure. Banking Regulation and Supervision Agency
(BRSA) is accountable for the financial framework, though
the Capital Markets Board of Turkey (CMB) is the
fundamental controller or the regulator of the capital markets. The
Undersecretariat of Treasury directs the insurance industry. For
each section of the financial sector, there are self-administrative
associations, to which membership is mandatory for market
members.
