Turkish Capital Markets Board
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| Turkish Capital Markets Board | |
| Founded | |
|---|---|
| Headquarters | Ankara, Turkey and Istanbul, Turkey regional office |
| Products | |
| Web site | http://www.cmb.gov.tr/index.aspx |
The Turkish Capital Markets Board (CMB) is the independent government authority that regulates and monitors capital market activities in Turkey. The board is comprised of seven members, two of whom are the chairman and the vice chairman.
The legal framework of the Turkish capital markets consists of three major legislations, one of which is specifically devoted to this area, the Capital Markets Law, enacted in 1981. The others are the Decree with Force of Law No. 91 concerning the securities exchanges and the Turkish Commercial Code.
The subject of the Capital Markets Law is to regulate and control the secure, transparent and stable functioning of the capital market and to protect the rights and benefits of investors with the purpose of ensuring an efficient and widespread participation by the public in the development of the economy through investing savings in the securities market.[1]
The CMB prepared a bill, or draft law, that aimed to amend the Capital Markets Law[2] to bring it more in line with relevant European Union legislation.[3]
The CMB granted the permission for the establishment of TurkDEX on March 5, 2004 after being convinced that necessary macroeconomic stability throughout the country was achieved. TurkDEX opened on Feb. 4, 2005 as the first private exchange in Turkey.[4]
History
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Key People
- Turan Erol Ph.D., Chairman[5]
- Mustafa Korhan, Board Member
- Ilhami Ozturk, Board Member
- Mithat Hizli, Board Member
- Abdulkerim Emek, Board Member
- Vahdettin Ertas, Board Member
- Muhammed Emin Ozer, Board Member
References
- ↑ the Capital Markets Board. CMB. Retrieved on July 9, 2008.
- ↑ Capital Markets Board of Turkey. CMB. Retrieved on July 9, 2008.
- ↑ The EU and Turkey are United on the Issue of Capital Markets Standards. Delegation of the European Commission to Turkey. Retrieved on July 9, 2008.
- ↑ Recent Developments in International Securities Law. ABA. Retrieved on July 9, 2008.
- ↑ Speech by Turan Erol, Ph.D. at Central European Covered Bond Conference. spk.gov. Retrieved on July 9, 2008.
