Sermaye piyasası hukukunda manipülasyonlara ilişkin müeyyideler
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Date
2007
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Sosyal Bilimler Enstitüsü
Abstract
Capital Market is an atmosphere within which medium and long dated fund supply and demand get together. The main objective of capital market is to have the savings of people transferred to the investments. The 1st article of 2499 numbered Capital Market Law, which is the main regulation in our Capital Market Law, is aimed as ?to make the capital markets operate in reliance, clarity and stability and to get the rights and benefits of the saving owners preserved. For the Capital Market Law to develop fast and the markets to go in to action have caused the actions of gaining unjust advantages by some illegal methods. Manipulation is one of them. Manipulation is the activity leading to the prices of means of capital market, creating artificial supply and demand. In the Capital Market Laws, before searching the sanctions concerning manipulation, the decrees of Turkish Commercial Law about joint- stock companies that are certainly possible to perform these sorts of activities have been searched. As it happens at every Law discipline, also in the Capital Market Laws, measures have been taken to stop the manipulation. These actions are in the administrative, legal and criminal forms. Against the manipulation, the administrative sanctions are arranged in detail in Capital Market Law, and in the regulation of market, and Committee of Capital Market and Market Executive Committee have been granted extensive authorization. Not performing the obligation of informing the public, the exporting companies that cause loss for the investors, the stock brokers, and the independent supervising foundations that cause loss for the investors by issuing false reports have got legal responsibility. The sanction of the legal responsibility is indemnity. Furthermore, in Capital Market Law, the manipulation based on action and information have thought as crime, and it has been belonged to the criminal sanctions. In case the heavier criminal sanctions are thought in the other Laws, these sanctions are going to be applied.
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Keywords
Manipülasyon, Manipulation