Türkiye’s Capital Markets Board (SPK) revoked all operating licenses and the authorization certificate of brokerage Tera Yatırım Menkul Değerler on Oct. 27.
The regulator also ordered compensation for the company’s investors and its gradual liquidation under the Capital Markets Law.
The bulletin did not specify a payment schedule or compensation amounts.
The brokerage’s liquidation is separate from proceedings involving investment funds established by Tera Portföy. İş Bankası is handling the affected Tera Portföy funds under separate SPK rules setting out procedures for interim and final payments to eligible fund investors.
