CMB (Capital Markets Board)

The Capital Markets Board (CMB) is a regulatory and supervisory authority in Turkey that is responsible for the regulation and oversight of capital markets. It was established in 1981 with the aim of ensuring the efficient, transparent, and fair operation of capital markets in Turkey.

The CMB’s main responsibilities include:

1. Regulation and Supervision: The CMB formulates and enforces regulations for the functioning of capital markets in Turkey. It sets rules and standards for various market participants such as issuers, intermediaries, and investors. It also monitors compliance with these regulations and takes necessary actions to prevent market abuse and misconduct.

2. Licensing and Authorization: The CMB is responsible for issuing licenses and authorizations to entities operating in the capital markets. This includes investment firms, brokerage houses, asset management companies, and other financial institutions. It ensures that these entities meet the necessary requirements and adhere to the prescribed rules and regulations.

3. Investor Protection: The CMB aims to protect the rights and interests of investors in the capital markets. It promotes transparency and disclosure by requiring companies to provide accurate and timely information to investors. It also takes measures to prevent fraud, manipulation, and insider trading activities in the markets. In cases of investor grievances, the CMB provides a platform for dispute resolution.

4. Market Development: The CMB plays a crucial role in the development and growth of the capital markets in Turkey. It formulates policies and initiatives to enhance market efficiency, liquidity, and depth. It encourages innovation and introduces new financial instruments and products to broaden the range of investment opportunities.

5. International Cooperation: The CMB actively participates in international organizations and collaborates with other regulatory bodies to promote global standards and best practices in capital market regulation. It engages in information sharing, capacity building, and regulatory harmonization efforts to ensure the integrity and stability of the markets.

Overall, the Capital Markets Board (CMB) serves as the regulatory authority for capital markets in Turkey. It aims to create a secure and transparent environment for market participants, protect the interests of investors, and foster the development of the capital markets in the country.