Politics · Turkey · 6 hrs ago
Turkish committee approves plan to recover assets from liquidated funds
A Turkish parliamentary committee approved a bill on funds that have been ordered to close.
The proposal aims to recover assets unlawfully taken from the funds and pass them to investors.
It would cover transfers made through improper deals, including transactions with company owners, managers or related parties that did not serve a real economic purpose for the fund.
Portfolio management companies would be responsible first for losses, with other people or companies potentially held personally responsible if the money cannot be recovered from the managers.
The Capital Markets Board would identify each fund’s losses and those responsible, then inform the Savings Deposit Insurance Fund, which could pursue collection from their assets.
Seized assets could be returned to the funds or, if a fund has finished winding up, placed in a recovery account.
The bill also allows the insurance fund to manage and sell some seized property, while disputes under the plan would be heard by administrative courts in Istanbul.
Turkey’s parliamentary Planning and Budget Commission approved a bill on recovering assets unlawfully removed from certain investment funds under liquidation.
The proposal would make portfolio management companies responsible first for fund losses, with other identified people and entities potentially held personally liable if recovery from the companies is insufficient.
The Capital Markets Board would identify losses and responsible parties, then notify the Savings Deposit Insurance Fund, which could pursue collections from their assets.
Seized or confiscated assets linked to fund losses could be returned to the relevant fund or, after its liquidation, to a recovery account.
The bill’s sponsor said payments would not use Treasury or budget resources and would instead come from fund assets and sums recovered from responsible parties.
- Who
- Turkey’s parliamentary Planning and Budget Commission approved the bill. The proposal assigns roles to the Capital Markets Board and the Savings Deposit Insurance Fund.
- What
- The bill sets out a process to recover assets unlawfully removed from certain investment funds and transfer recovered value to investors.
- When
- The commission approved it on October 14, 2026.
- Where
- Turkey’s parliamentary Planning and Budget Commission.
- Why
- To recover fund assets and losses, establish responsibility, and provide for recovered value to be transferred to the funds or recovery accounts.
Bill supporters
Opposition lawmakers
Commission review
Bill supporters
AK Party lawmaker Ersan Aksu said the proposal addresses a limited part of the fund market and that there was no structural or systemic risk to the financial system.
Opposition lawmakers
Some opposition lawmakers called for more information or review by a subcommittee, and argued that the impact analysis did not provide enough information.
Public funding
Bill supporters
Aksu said Treasury or budget resources would not be used; payments would come from fund assets and amounts collected from responsible parties.
Opposition lawmakers
Not stated.
The parliamentary Planning and Budget Commission met to discuss the bill.
Opposition lawmakers raised requests for more information and a subcommittee review.
The commission approved the bill.
- Funds under liquidation
- 131, according to bill co-sponsor Ersan Aksu
- Investment funds in the market
- More than 2,000, according to Aksu
- Fund portfolio value
- 7.7% of total portfolio value, according to Aksu
- Investigations
- 84 people detained and 282 people subjected to action, according to Aksu
- Recovery authority
- Savings Deposit Insurance Fund (TMSF)
3 sources
What people are saying
Treasury resources or budget funds will absolutely not be used.
We will not turn a blind eye to anyone who seeks to exploit our citizens’ hard work, labor and future for their own gain.
We cannot discuss this bill in this environment with a simple impact analysis.
The faulty practice should be abandoned.