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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsErdogan Post-Coup Purge Claims First Finance Industry Victim
The head of research at one of Turkeys largest brokerages was stripped of his professional license and is facing criminal charges over a report analyzing the impact of the July 15 coup attempt, marking an extension of President Recep Tayyip Erdogans crackdown to the nations private financial sector.
The Capital Markets Board published the decision in its bulletin on Wednesday, saying the strategist, Mert Ulker, failed to fulfill his responsibilities in the preparation and publication of a July 18 report produced by Ak Investment, the brokerage arm of Turkeys second-largest bank. Ulker also faces charges under articles 299 and 301 of the penal code, which make insulting Turkeys president, the nation or its institutions a crime. The CMB license is required to work in capital markets in Turkey. The statement didnt say whether
Ak Investments status was affected.
Ulker, who was also chief strategist for the Istanbul-based broker, is the first analyst to have his license revoked amid a purge of tens of thousands of bureaucrats, educators and security-forces personnel in the wake of the failed attempt by a faction of Turkeys military to overthrow Erdogans government 12 days ago. Turkish regulators have been requesting that banks hand over their analysis of the putsch, with Mehmet Ali Akben, head of the banking regulator, saying on July 21 that it disapproved of the publication of reports that would turn expectations and the atmosphere negative."
Investor Confidence
The CMB declined to comment on the issue when contacted by Bloomberg, referring to the bulletin. Ulker couldnt be reached on his cellphone following the statement on Wednesday.
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http://www.bloomberg.com/news/articles/2016-07-27/turkey-research-chief-stripped-of-license-for-post-coup-analysis
Avalux
(35,015 posts)edhopper
(33,669 posts)and lose all chances of Turkey joining the EU.