Investor Compensation Center intervenes when investment firms fail to fulfill their obligations to pay cash or deliver capital market instruments originating from investment services or activities. The upper limit of the amount (TRY 721,557 for 2023) to be paid to each investor is increased by the rate of re-appraisal each year.
Takasbank plays a very important role as a CCP by taking on counterparty credit risk between parties to a transaction, i.e. by acting as buyer against seller and seller against buyer.
Assets of the funds are segregated from the assets of their founders and portfolio custodians, which provides an extra layer of security. The assets may not be used as collateral or be pledged without a specific mandate. The assets may not be attached including for the purpose of collecting public receivables, may not be included in the bankruptcy estate and may not be subject to cautionary injunction.
MKK is regarded as the Financial Accounts Center of Türkiye and all investor accounts are fully segregated from that of intermediary institutions.
Market surveillance activities are carried out with a proactive approach in order to ensure that markets operate in a reliable, transparent, efficient, fair, and stable manner. Markets are monitored on a real-time basis using an electronic surveillance system, unusual price and volume movements are followed, and market distorting transactions are detected.
Instrument and investor based measures are taken based on either Volatility Based Measures System or Directive on Surveillance Measures to protect investors from the risks arising from extreme volatility, to ensure that exchange transactions are conducted in secure, transparent, efficient, stable, right, fair and competitive manner; to prevent improper, fraudulent acts and violations; and to prohibit illegal exchange transactions.
Violations of capital market rules and legislation and market abuse actions are reported to the Capital Markets Board of Türkiye. As per the regulation; insider trading, manipulation and market abuse actions are subject to strict sanctions such as trading and settlement restrictions, fines and imprisonment.