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Turkey's capital markets regulator has imposed fines totalling about 2 billion lira, equivalent to around USD 47 million, on 19 individuals for carrying out transactions that disrupted the market in shares of Peker Gayrimenkul Yatirim Ortakligi, a listed real estate investment trust. The authority has also initiated criminal complaints linked to trading activity in several other listed companies across insurance, investment, brokerage and renewable energy segments. Peker REIT has stated that it has no involvement in the trades under scrutiny or the related administrative actions.
Turkey's Capital Markets Board has taken enforcement action against a group of individuals for irregular trading activity in the shares of Peker Gayrimenkul Yatirim Ortakligi, commonly known as Peker REIT. According to the regulator's weekly bulletin, financial penalties amounting to nearly 2 billion lira were imposed on 19 people after investigations concluded that the transactions had a disruptive impact on the market. Advertisement
Beyond Peker REIT, the regulator has also filed criminal complaints against several individuals considered responsible for suspicious trading patterns in other listed entities. These include Ray Sigorta, Euro Trend Yatirim Ortaklii, Global Menkul Degerler and Pamel Yenilenebilir Elektrik Uretim. The move signals a wider review of trading conduct across multiple sectors, including insurance, financial services, investment trusts and renewable energy.
Peker REIT responded by clarifying that the company, as a legal entity, has no direct or indirect link to the transactions that led to the fines or to the administrative sanctions imposed by the regulator. The statement sought to separate the company's operations and governance from the actions of individuals targeted by the authority.
Market reaction remained muted. Peker REIT shares were marginally lower during trading, slipping by less than 1%. Despite the recent dip, the stock has seen a sharp rise over the year, having climbed from around 1.28 lira at the start of the year to about 14 lira currently, reflecting heightened investor interest and volatility in the counter.
Source Reuters
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