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A Proposal of Settlement Power for Turkish Capital Markets

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  • Saim Kiliç
  • Ali Alp
  • Adem Sahin
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    Abstract

    Settlement is an important part of the regulatory authority’s enforcement program in capital markets. When compared to other countries, one of the major weaknesses currently characterizing Turkish securities markets in terms of enforcement powers is that regulatory authority (i.e. the Capital Markets Board of Turkey, CMB) has no power to enter into settlements with individuals and institutions that have breached the rules. In this paper, we attempted to make a proposal of settlement for Turkish securities markets to fill this gap. If our proposal is taken into consideration, at least two positive outcomes are expected to be achieved. First of all, it can provide a flexible, quick and cost-effective alternative to non-negotiated litigation or certain administrative sanctions. Secondly, it will create a steady income stream for investor education

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    File URL: http://www.bddk.org.tr/WebSitesi/turkce/Raporlar/BDDK_Dergi/6731makale2%20kilic.pdf
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    Bibliographic Info

    Article provided by Banking Regulation and Supervision Agency in its journal Journal of Banking and Financial Markets.

    Volume (Year): 3 (2009)
    Issue (Month): 1 ()
    Pages: 37-62

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    Handle: RePEc:bdd:journl:v:3:y:2009:i:1:p:37-62

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    Related research

    Keywords: Turkish Capital Markets; Settlement; Enforceable Undertakings; Enforcement Powers; Investor Education;

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