Turkey’s market regulator fined seven brokerages for violating short-selling rules and imposed a six-month trading ban on individuals it suspects of stock-price manipulation through social-media platforms.
The Capital Markets Board imposed fines totaling 16.7 million liras ($2.4 million) on the brokerages and 18 investors on Monday for contravening short-selling regulations in place since Feb. 25. In banning six people for manipulating the equity market through applications such as Telegram, it warned investors that paid membership of stock-tipping groups could make them complicit in crimes.
Turkish mom-and-pop traders are rushing to the nation’s equity market this year in record numbers because ...
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