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Market Abuse Actions In Accordance With
Capital Markets Law
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Att. Nilay Celebi
Introduction
The Capital Markets Board adopted the Communiqué on Market
Abuse (VI-1.104.1) (“Communiqué”) in order to determine the acts
and transactions that result in the distortion of the reliability, trans-
parency, and stability of stock markets and other organized markets,
which cannot be justified through reasonable economic or financial
grounds, and sanctions upon those persons who do such acts and trans-
actions. The Communiqué was published in the Official Gazette on
21.01.2014, and came into effect the same day. The Communiqué sets
forth market abuse actions, and actions that are not deemed as market
abuse.
Market Abuse with respect to Inside or Periodic Information
Persons that have inside or periodic information prior to the pub-
lic disclosure of such information pursuant to the capital markets law,
shall keep such information confidential until the disclosure thereof.
The disclosure of such information by the persons in question before
the public disclosure, and the execution of capital markets transactions
based on direct or indirect knowledge of such information shall be
deemed as market abuse.
Transactions regarding relevant capital market instruments by per-
sons having inside or periodic information, or by the spouse, children,
or cohabitants of such persons during the period starting from the day
after the end of the accounting period regarding financial statements
and reports of issuers, or independent audit reports, until the date of
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NEWSLETTER 2015
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Article of March 2015