Turkey enlists two major banks to liquidate 131 troubled funds

Turkey: Turkey is a transcontinental country spanning Western Asia and Southeastern Europe with a major emerging economy and developed financial markets. Its Capital Markets Board regulates the asset-management sector amid ongoing industry challenges. In the current news, Turkish authorities have enlisted two major domestic banks to manage the liquidation of investment funds impacted by recent market disruptions. Industry Response: Authorities are implementing steps to prevent localized fund issues from spreading to the broader financial system in Turkey. Regulatory Action: Turkish regulators have announced additional measures including trading bans and criminal complaints targeting alleged market manipulation in the asset-management sector.