Turkey's Banking Regulatory and Supervisory Authority
("BRSA") published the Regulation on Manipulation and
Misleading Transactions in Financial Markets
("Regulation") on 7 May 2020, entering into force on the
same date. The Regulation sheds light on the recently introduced
article 76/A of the Banking Law Number 5411 ("Law"),
which included a brief definition of manipulation and misleading
transactions.
As per the Regulation, engagement in the following practices by
Turkish banks and the branches of international banks in Turkey
will be considered market manipulation and misleading transaction
under the scope of article 76/A of the Law:
Being involved in or meditating transactions that provide or may
provide a false or misleading impression of the supply, demand, or
price of a financial instrument, or that cause or may cause that
the price of a financial instrument (including exchange rates and
interests) be kept at an abnormal or artificial level, or
