Turkey Stiffens Manipulation Rules With Lira at Record Low
Exchange rates on display in the window of a currency bureau in Istanbul.
Photographer: Kostas Tsironis/BloombergThis article is for subscribers only.
Turkey’s banking regulator expanded the definition of manipulative trades in financial markets as the country’s currency hit a record low.
Bank trades that result in “misleading pricing” or keep asset prices at “abnormal or artificial” levels will now be considered manipulative, according to a new BDDK regulation called “Manipulative and Misleading Trades in Financial Markets.” The regulation complements a February law that stiffened punishments and raised jail terms for insider trading and market manipulation.