The Regulation on the Manipulation and Misleading Transactions on Financial Markets ("Regulation") entered into force through publication in the Official Gazette dated 07.05.2020 and numbered 31120.
Through the Regulation, the acts performed by banks that are within the scope of Article 76/A of the Banking Law No. 5411 which are deemed as manipulation and misleading transactions and practices on financial markets, are determined.
In this context, acts, among others, to influence the prices of financial instruments, to spread false and misleading information and rumors, to mislead; to conduct or to mediate to the transactions and practices to overcome Banking Regulation and Supervision Agency ("Agency") decisions or limitations, through indirect methods or to disable Agency decisions regarding foreign currency swap, forward, option and other derivative transactions, conducted by the banks with foreign residents, having foreign currency on the one end and TRY on the other or provision of TRY liquidity abroad by banks are deemed as manipulation and misleading transactions and practices on financial markets.
Please find the Turkish version of the Regulation here.
Originally published 11 May 2020
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