Türkiye to step up fight against market manipulation: Şimşek

ANKARA

Tougher penalties will be introduced and the regulatory framework will be strengthened to combat market manipulation, Treasury and Finance Minister Mehmet Şimşek has said.

Speaking at the opening of the Capital Markets Congress organized by the Turkish Capital Markets Association (TSPB), Şimşek said that “certain funds” are being used for manipulative practices and acknowledged gaps in regulation.

“We are aware that manipulations are carried out through some funds. We also know there is a regulatory deficiency in that area. We will address these shortcomings. In the coming period, the intensity of our fight against manipulation will go beyond even our efforts against the shadow economy,” he added.

Addressing the issue of market manipulation, Şimşek said: “There will be a need for new regulations in this area. Making penalties much heavier is one of the issues on our agenda. If we cannot fight manipulation effectively, confidence in this field will remain weak. That is why this is a non-negotiable priority for us.”

One of the key goals of the “Century of Türkiye” vision is to develop and deepen the country’s capital markets, the minister also said.

He underlined the importance of continuously improving the regulatory framework to achieve this objective.

Şimşek noted that Türkiye does not face shortcomings in technological infrastructure but emphasized that additional regulatory efforts will be introduced.

He pointed to forthcoming steps aimed at expanding product diversity and broadening the investor base.