The Capital Markets Board of Türkiye amended the procedures and principles for fund liquidation. The liquidation period, previously set at a maximum of three months, was extended to six months.
The new regulation will apply by taking into account the portfolio structures of the funds slated for liquidation and market developments.
On September 17, the Capital Markets Board of Türkiye authorized Türkiye İş Bankası and Ziraat Bankası to carry out the processes concerning 131 investment funds being liquidated by seven portfolio management companies. Under the previous regulation, liquidation was required to be completed within a maximum of three months.