The Capital Markets Board (CMB) announced the results of its meeting held on March 19. Accordingly, CMB decided to first notify brokerage firms and portfolio management companies that it is possible to employ personnel part-time/rotational/remote access or within the framework of other similar procedures to be determined by the institution, within their own responsibilities. In the statement, it was suggested to establish documentary recording mechanisms that could be considered reasonable in possible customer disputes regarding the receipt, acceptance and transmission of orders, within the framework of a verifiable customer approval.
Orders can be placed via WhatsApp
Provided that the necessary information is given to the customers about the transactions to be carried out, orders can be accepted through communications via mobile applications (Whatsapp, etc.) on the mobile phones of the personnel who are expected to work remotely and/or through the personal e-mail address allocated to the personnel.
50 percent rate softened
It was decided that the provision regulating that the equity protection ratio in credit transactions should be at least 35 percent and that the guarantee ratio should be completed to 50 percent if it falls below this rate, will be implemented as of the date of the Board’s decision and will be completed to 35 percent until a second announcement is made.
Public companies are provided with the opportunity to repurchase their shares traded on the stock exchange without any limits, and before share repurchases, a management plan is prepared that includes, at a minimum, the purpose of the repurchase, the maximum number of shares that can be subject to repurchase, and the maximum amount of funds that can be allocated for this purpose. It was stated that the board’s decision should be made and disclosed to the public and that these provisions are still in force.
1 month to declare balance sheet
The financial reports of portfolio management companies, brokerage firms and investment funds for the accounting period of 01.01.2019-31.12.2019 and the three-month interim accounting period of 01.01.2020-31.03.2020 can be made by the end of the month following the final notification periods determined in the capital markets legislation. opportunity was provided.
Businesses were also allowed to prepare their financial statements by adding 30 days to the period specified in the legislation. It was decided to extend the periods in the 1st and 2nd paragraphs of Article 25 titled “Declaration of Limitation” of the Investor Compensation Center Regulation by one month each. In addition, CMB reminded that notifications and applications to the board can be made via Registered Electronic Mail (KEP).
Source: https://www.dunya.com/ekonomi/spk-piyasalara-nefes-verdi-haberi-465645
