SPK Suspends Capital Market Activities of Alnus, Bulls, and Pusula

The Capital Markets Board (SPK) temporarily suspended all capital market activities of Alnus Investment Securities, Bulls Investment Securities, and Pusula Investment Securities as of 00:01 today. According to an SPK bulletin relayed by Anadolu Agency, the Board also imposed an administrative fine of 354,803.96 lira on HSBC Investment Securities at the same meeting.

The fund crisis's liquidation dimension was reflected in the SPK's decisions. The Board removed Metas Real Estate Valuation and Consulting from the "List of Authorized Organizations for Real Estate Valuation in the Capital Market." Fiba Investment Securities' application to issue debt instruments worth 1 billion lira was approved.

At the same session, the SPK also established new rules for applications that could not be made electronically regarding the return of expired deposits and receivables. Accordingly, applications from heirs, proxies, guardians, custodians, and authorized representatives of legal entities were included in the scope; a 30-day period was granted to remedy deficiencies in applications. Foreign currency receivables, upon request, can be converted to Turkish lira at the Takasbank foreign exchange buying rate on the date of return.