21.10.2026 01:10
The Capital Markets Board has decided to temporarily suspend the capital market activities of Alnus Yatırım, Bulls Yatırım, and Pusula Yatırım. The Board also imposed an administrative fine of 354,803 lira on HSBC Yatırım, while approving Fiba Yatırım's 1 billion lira debt instrument issuance. The bulletin also announced new rules regarding the refund of investors' receivables that have become time-barred.
Capital Markets Board (SPK) announced its decisions concerning brokerage firms and investors. Deciding to temporarily suspend the activities of three investment institutions, the SPK also set out procedures for the repayment of investor receivables in addition to administrative sanctions.
ACTIVITIES OF 3 BROKERAGE FIRMS SUSPENDED
The SPK decided to temporarily suspend the capital market activities of Alnus Yatırım Menkul Değerler, Bulls Yatırım Menkul Değerler, and Pusula Yatırım Menkul Değerler.
The decisions, based on the provisions of the Capital Markets Law and the legislation on the activities and capital adequacy of investment institutions, will be effective as of 00:01 on October 21, 2026.
The Board did not share a date for when the companies in question will resume their activities.
FINE FOR HSBC YATIRIM
The bulletin also included the administrative sanction decision taken regarding HSBC Yatırım Menkul Değerler.
The SPK imposed an administrative fine of 354,803.96 Turkish lira on the company on the grounds that sufficient examination was not carried out to determine whether cash and capital market instruments had become time-barred and that the obligation to exercise professional diligence and care was not complied with.
Meanwhile, Metas Gayrimenkul Değerleme ve Danışmanlık was removed from the list of institutions authorized to conduct real estate valuation in the capital market.
FIBA YATIRIM'S 1 BILLION LIRA APPLICATION APPROVED
The Board approved Fiba Yatırım Menkul Değerler's bond and financing bill issuance ceiling totaling 1 billion lira.
The debt instruments in question may be offered through private placement or to qualified investors.
NEW ERA IN THE RETURN OF INVESTOR RECEIVABLES
The SPK also regulated the application principles for returning cash and capital market instruments transferred to the Investor Compensation Center (YTM) due to the statute of limitations to their rightful owners.
The new rules cover joint account holders who cannot transact via e-Government, heirs, attorneys, guardians, trustees, and legal entity representatives.
These persons will need to fill out the application form on the YTM's website, wet-sign it, and deliver it to the center together with the required documents. Documents may be sent by registered mail with return receipt or hand-delivered against signature.
Special applications outside the specified groups will be reviewed by the YTM Board of Directors.
ADDITIONAL DOCUMENT REQUIREMENT FOR HEIRS
Heirs claiming the receivables of deceased investors will be asked for a current certificate of inheritance and a document showing that the inheritance and transfer tax obligation has been fulfilled or that there is no tax liability.
In addition, a wet-signed declaration showing that all heirs approve payment in accordance with their inheritance shares or a finalized court decision regarding the conversion of joint ownership into co-ownership will be submitted.
For transactions carried out through a representative, a notarized power of attorney expressly authorizing collection will be required.
30-DAY PERIOD FOR MISSING DOCUMENTS
The YTM may request additional information or documents during the evaluation of applications.
Rightful owners will be given 30 days to complete missing documents or correct inaccurate information. If the necessary actions are not taken within the specified period, the application may be removed from processing.
Within the scope of the return, capital market instruments will be returned together with the bonus shares earned during this process. Cash receivables will be paid with the addition of the accrued interest amount calculated in accordance with the legislation.
Payments may only be made to accounts at banks or brokerage firms located in Türkiye. Receivables in foreign currency may, upon the request of the rightful owner, be converted into Turkish lira based on the Takasbank foreign exchange buying rate on the date of return.
DATE OF THE NEW APPLICATION SYSTEM TO BE ANNOUNCED
The new return principles set by the SPK will not enter into force immediately.
The regulation will enter into force when applications begin to be accepted via e-Government. The start date of the practice will be announced on the Investor Compensation Center's website.
Until that date, the existing application rules will remain valid for the return of investor receivables.