International Conference on Eurasian Economies
24-25 August 2021 – Istanbul, TURKEY and ONLINE
Paper properties
Paper ID : 2593
Status : Paper published
Language : Turkish
Topic : Law
Presenter: Assoc. Prof. Dr. Soner Hamza Çetin
Session : 3C Turizm ve Hukuk
Market Manipulation According to the Capital Market Law
Sermaye Piyasası Kanunu’na Göre Piyasa Dolandırıcılığı Suçu
- Assoc. Prof. Dr. Soner Hamza Çetin (Girne American University, Türkiye)
Abstract
The behavior (manipulation) for prompting selling or buying a capital market instrument or increasing or decreasing the value of capital market instrument artificially by deceiving the investors in the capital market sprincipally deteriorate the trust and stability of the capital market and damages the rights of the investors. Besides, such behavior upsets the transparency of the market and causes that the trust that should be in the market is breached. Such behavior called as manipulation in the capital markets are arranged under the name “market manipulation” in the article 107 of the Capital Market Law (SPKn) no: 6362. Because of the negative impacts on the market, having an arrangement as a crime separate from the fraud provisions included in the criminal code is principally a statement of a necessity. Market manipulation is subjected to a dual distinction as committed based on insider information and committed based on transaction. Article 107/1 regulates the market manipulation based on trade and Article 107/2 of SPKn the market manipulation based on information. Even though the same imprisonment is anticipated in the law for both market manipulation, for the market manipulation based on trade, a special remorse circumstance is included in the Article 107/3 and a special compliance with the laws reasons in the Article 108.
JEL codes: K42
Çetin, Soner Hamza (2021). "Market Manipulation According to the Capital Market Law" in Proceedings of International Conference of Eurasian Economies 2021, pp.397-406, Istanbul, TURKEY and ONLINE.
DOI: https://doi.org/10.36880/C13.02593
