Vice President Yilmaz: Measures against problematic funds are decisive

Vice President Cevdet Yılmaz, in his statement on his NSosyal account, emphasized that capital markets are extremely important and valuable in the development process, and that capital markets will continue on their way in a stronger way by overcoming the recent problems in certain funds.

Underlining that the Fund Coordination Board, which he chairs, works intensively, Yılmaz said:

"Administrative and judicial measures are being implemented with determination and coordination regarding the problems experienced in a certain part of the fund markets. Ordinary liquidations are being carried out rapidly, legal regulations for extraordinary liquidation are on the agenda of our Parliament. Intensive and multifaceted efforts are being made to return unfair and exorbitant profits to the system and pay them to investors.

On the other hand, it is wrong to incriminate all capital markets and healthy functioning funds by distorting the measures and regulations made against abusers and manipulators. About 10 months ago, I briefly said that I found it wrong to create the perception that certain regulations made at that time regarding some abused funds were aimed at the entire market.

I underlined healthy economic communication. "Today, with the same understanding, I express that the measures taken regarding problematic funds and the perceptions created as if they were directed at funds that operate in accordance with the rules and constitute more than ninety percent of the market, harm the system and investors."

Stating that they act with an approach that does not harm the structure while liquidating diseased structures, Yılmaz said, "Wherever there is a concrete problem, it is essential for the competent authorities to address the problem or problematic funds in question." he said.

"As we have repeatedly emphasized, investing in funds, stocks or different capital market instruments is not a crime, on the contrary, it is a policy supported in all our plans and programs. Disrupting the market with illegal transactions, fraud and manipulation in these areas is a crime. Failure to make this distinction clearly will harm both investors and our economy.

Whoever has committed or commits an unlawful act must undoubtedly bear the consequences. "It is the common responsibility of all of us, especially the independent regulatory and supervisory authorities, to protect the rights of employees who comply with the rules, the system in general and the rights of investors."

Source: TRT Haber Açık RSS (Gündem) (Open Press / Translated Full Text)