Sep 17 2019

Turkey’s banking watchdog investigates dozens for illegal trading

The banking watchdog Capital Markets Board (SPK) has launched an investigation against some hundred individuals suspected of illegal derivatives markets trading abroad, Bloomberg reported on Tuesday.

Bloomberg, citing an anonymous source, said Turkey’s treasury will be notified after the SPK completes the investigation. The treasury is authorised to issue fines to persons found to be in violation of a law passed in 2017 that requires investors to do derivatives trading through authorised channels.

Such investigations are routinely carried out, SPK Chairperson Ali Fuat Taşkesenoğlu was quoted as saying by Bloomberg.

 

 

https://www.bloomberg.com/news/articles/2019-09-17/turkey-probes-around-100-people-for-illegal-derivatives-trading