CMB Updates Revaluation Amounts

The Capital Markets Board (CMB) announced on its website that administrative fines have been increased by 58.46 percent based on the Capital Markets Law No. 6362. This increase resulted in the determination of fines of different amounts for various offenses.

For market distortion actions, the penalty range has been set between 246,511.47 liras and 6,168,483.34 liras. The revaluation has also led to the rearrangement of public offering conditions.

According to the new regulations, if the market value for publicly offered companies is determined to be below 500 million liras according to the public offering price, partners’ rights to buy shares will be restricted. Additionally, companies going public in 2023 will be required to achieve a turnover of at least 750 million liras and have an asset size of 1 billion 500 million liras.

These updates aim to bring more transparency and fairness to the capital markets and provide better protection to investors. It is essential for companies and individuals involved in capital markets to be aware of these new regulations and ensure compliance to avoid any potential fines or penalties.

 

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