Regulation on Stock Exchange Fines by CMB

Regulation on Stock Exchange Fines by CMB Regulations on stock exchange fines by CMB. The upper limit of disciplinary penalties in the stock exchange has been raised from 50 thousand lira to 5 million lira. The Capital Markets Board (CMB) made changes in the "Types of Disciplinary Penalties", "Acts Requiring Disciplinary Penalties" and "General Provisions on Determination and Implementation of Penalties", regulating the procedures and principles for exchange transactions. The amendment made in the CMB's "Regulation on Principles Regarding Borsa İstanbul Stock Exchange Activities" was published in the current issue of the Official Gazette and entered into force. According to the decision, the upper limit has been increased for the fines to be imposed on those authorized to act and / or their representatives. Previously, it was revised as "fine from 10 thousand TL to 50 thousand TL", with the new amendment "fines from 10 thousand TL to 5 million TL".   In the said regulation, new articles were added to the acts requiring disciplinary penalties. These verbs were as follows:   '' To make false and misleading comments and recommendations about capital market instruments by using newspapers, television, internet, social media accounts or similar mass media. Cooperating with those who try to direct investors by making false and misleading impressions about prices, price changes and supply and demands of capital market instruments through social media or becoming a member through membership-based online closed groups, or to membership-based online closed groups established for this purpose or operating for this purpose.''   On the other hand, the fine to be imposed in case of these actions will not be less than 50 thousand lira.   In addition, the third paragraph of Article 54 is changed, which contains general provisions regarding the determination and implementation of the penalty, '' The punishments in the sub-clauses (ç) and (d) of the first paragraph of Article 52 for the relevant persons or due to the acts that violate the capital market legislation from the acts listed in Article 53. in case of a penalty, according to the situation as soon as notified to the Committee and Turkish Capital Markets Union interest. ''