Business · Companies · 6 hrs ago
JPMorgan Says Turkish Brokerage License Process Won’t Affect Its Other Businesses
JPMorgan says it is not leaving Turkey after a process began to cancel the license of J.P. Morgan Menkul Değerler A.Ş., its brokerage company.
The company says it has not carried out capital markets activity since 2015 and has not provided investment services to clients.
It says the license process is intended to bring the inactive company’s legal status in line with its actual situation.
The process concerns only the separate brokerage company, not JPMorgan Chase Bank’s Istanbul branch.
The bank branch’s activities will continue without interruption, and JPMorgan has decided to expand its banking business in Turkey.
The company says it is working with the relevant authorities on the planned expansion.
J.P. Morgan Menkul Değerler A.Ş. said the process to revoke its brokerage license does not mean JPMorgan Chase is leaving or limiting its other activities in Türkiye.
The company said it has conducted no capital markets activity or provided investment services since July 2015.
It said the process is intended to align the brokerage firm’s legal status with its long-standing lack of activity.
JPMorgan said its Istanbul branch is a separate legal entity and its banking activities in Türkiye will continue without interruption.
The Istanbul branch recently decided to expand its banking activities in Türkiye, with work continuing in coordination with relevant authorities.
- Who
- J.P. Morgan Menkul Değerler A.Ş. and JPMorgan Chase.
- What
- The brokerage firm is pursuing the cancellation of its operating license. JPMorgan said this will not affect its other activities in Türkiye.
- When
- The companies’ statements were published on October 21, 2026.
- Where
- Türkiye.
- Why
- The process is intended to align the brokerage firm’s legal status with the fact that it has not operated for a long time.
This story does not have two clearly opposing sides.
The brokerage firm said it has not conducted capital markets activities or provided investment services to customers.
The company said it decided to cancel the brokerage license after discussions with the Capital Markets Board.
JPMorgan issued a clarification saying the license process would not affect its other activities in Türkiye.
- Brokerage firm
- J.P. Morgan Menkul Değerler A.Ş.
- No capital markets activity since
- July 3, 2015
- License process
- Applies only to J.P. Morgan Menkul Değerler A.Ş.
- Separate entity
- JPMorgan Chase Bank, N.A.’s Istanbul branch
- Expansion decision
- The Istanbul branch recently decided to grow its banking activities in Türkiye
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What people are saying
The decision has no connection whatsoever with current developments in our country.
We would particularly like to state that the application to the CMB and the termination of the Company's status as a brokerage firm do not mean that the other activities of the JP Morgan Chase group in Türkiye will end, be restricted, or that it will withdraw from Türkiye.