CMB suspends operations of three intermediary institutions; HSBC Investment fined 354,000 lira

The Capital Markets Board (CMB) temporarily suspended the capital market activities of Alnus Investment, Bulls Investment, and Pusula Investment Securities Inc. as of October 21, 2026 at 00.01. The Board announced that the decision was made under the scope of Law No. 6362 on Capital Markets and related circulars.

In the same bulletin, HSBC Investment Securities Inc. was issued an administrative fine of 354,803 lira and 96 kuruş. The CMB cited insufficient investigation in determining the statute of limitations for cash and securities, and failure to demonstrate professional diligence as the reason.

The CMB also removed Metas Real Estate Valuation and Consulting Inc. from the list of authorized institutions. Fiba Investment Securities Inc. was approved for a bond and financing instrument issuance ceiling of 1 billion lira in nominal amount; the issuance is envisaged to be conducted through allocated sales and sales to qualified investors.

New procedures were also announced for the return of deposits subject to statute of limitations. In cases where application cannot be made through e-Government, rights holders may apply by mail or in person by completing the form on the Investor Compensation Center's website along with supporting documents. Incomplete applications will be granted a 30-day extension period; applications not completed within this period may be removed from processing.