Capital Markets Board Of Turkey
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The Capital Markets Board of Turkey (CMB) () is the financial regulatory and supervisory agency of Turkey. Its board is appointed by the Turkish finance ministry.


History

The CMB was created in 1982 with the passing of the Capital Markets Law (CML) in 1981. This was followed by a number of further laws and decrees that expanded its functions and responsibilities. The most significant of these changes was Law No. 4487 which was passed in December 1999, which brought in a set of amendments to the Capital Market Law expanding the duties and the scope of authority. This included increased
consumer protection Consumer protection is the practice of safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace. Consumer protection measures are often established by law. Such laws are intended to prevent business ...
and changes to allow dematerlisation of stocks and other changes to make the markets more flexible and able to use information technology.


Responsibilities and functions

The CMB is responsible for safeguarding the stability of the financial market, consumer protections and supervising participants in the
stock market A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include ''securities'' listed on a public stock exchange a ...
.


Structure

The Chairman who is also the CEO is responsible for the administration and representation of the CMB and sits on a board which consists of seven Commissioners. The Council of Ministers appoints two members from four nominations by the Ministry of State Responsible for the Economy. The other five members are appointed from the nominations of the "
Ministry of Finance A ministry of finance is a ministry or other government agency in charge of government finance, fiscal policy, and financial regulation. It is headed by a finance minister, an executive or cabinet position . A ministry of finance's portfoli ...
", the " Ministry of Industry and Commerce", the "Banking Regulatory and Supervisory Board", the "Association of Trade Chambers and Exchanges", and the "Association of Capital Markets Intermediary Institutions". Each of these institutions nominates two candidates, one of whom is to be elected.


See also

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Securities Commission A securities commission, securities regulator or capital market authority is a government department or agency responsible for financial regulation of securities products within a particular country. Its powers and responsibilities vary greatly ...
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Istanbul Stock Exchange The Borsa İstanbul (abbreviated as BIST) is the sole exchange entity of Turkey combining the former Istanbul Stock Exchange (ISE) (), the Istanbul Gold Exchange () and the Derivatives Exchange of Turkey () under one umbrella. It was establishe ...
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Economy of Turkey The economy of Turkey is an Emerging market, emerging free-market economy. It ranked as the List of countries by GDP (nominal), 16th-largest in the world and List of sovereign states in Europe by GDP (nominal), 7th-largest in Europe by nominal GD ...
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List of financial regulatory authorities by jurisdiction In this list of financial regulatory and supervisory authorities, central banks are only listed where they act as direct supervisors of individual financial firms, and competition authorities and takeover panels are not listed unless they are set ...


References


External links


Official Site
{{Authority control
Turkey Turkey, officially the Republic of Türkiye, is a country mainly located in Anatolia in West Asia, with a relatively small part called East Thrace in Southeast Europe. It borders the Black Sea to the north; Georgia (country), Georgia, Armen ...
Finance in Turkey Regulatory and supervisory agencies of Turkey