scholarly journals Insider Trading Crime in Turkish Criminal Law

2018 ◽  
Author(s):  
Çetin Arslan ◽  
Didar Özdemir
Keyword(s):  
Comparative Analysis ◽  
Insider Trading ◽  
Criminal Law ◽  
Capital Markets ◽  
Capital Market ◽  
Good Faith ◽  
The Other ◽  
Public Disclosure ◽  
Crime Type ◽  
The Capital Market

Insider trading act is penalised ultima ratio with the aim of fighting against manmade market actions which outrage the principle of public disclosure and the element of trust in order to establish equality and good faith in capital markets. Insider trading is first disposed as a crime among the other capital market crimes (art.47/1-A-1) in the Capital Market Code no.2499 dated 28.07.1981 with the Amendment to the law no.3794 dated 29.04.1992 and at the present time it is rearranged as a self-contained crime type in article 106 of the Capital Market Code no.6362 dated 06.12.2012. In this study, the crime of insider trading is examined –in particular through the controversial points- as a comparative analysis between abrogated and current dispositions in Turkish Law.

scholarly journals SERMAYE PİYASASI KURULU’NUN İDARİ PARA CEZASI UYGULAMALARININ İLGİLİ MEVZUAT AÇISINDAN İNCELENMESİ

2015 ◽  
Vol 2 (3) ◽  
pp. 308-320
Author(s):  
Fatih Güçlü ◽  
Metin Kılıç
Keyword(s):  
Capital Markets ◽  
Capital Market ◽  
Public Disclosure ◽  
The Subject ◽  
Audit Activity ◽  
Safety And Stability ◽  
The Capital Market

The Capital Market Board (CMB), carry outs audit and surveillance activities in capital markets in order to provide safety and stability of capital markets, protect the rights of investors and fulfill public disclosure. In consequence of audit activity, the CMB, within the scope of power which has been given by the statute law can apply some sanctions, such as administrative fine. The subject of the study is administrative fine applications imposed by the CMB on companies whose shares are processed in the Borsa Istanbul (BIST), between 2006 and 2013. The aim of this study is to determine due to the infringement of which provisions of the statue law which cause administrative fines as a result of te CMB’s audit activity within the scope of power which has been given by the statute law. According to this research's result, CMB mostly executed administrative fines in consequence of statue law related to material disclosure.

SERMAYE PİYASASI KURULU’NUN İDARİ PARA CEZASI UYGULAMALARININ İLGİLİ MEVZUAT AÇISINDAN İNCELENMESİ

2015 ◽  
Vol 2 (3) ◽  
Author(s):  
Fatih Güçlü ◽  
Metin Kılıç
Keyword(s):  
Capital Markets ◽  
Capital Market ◽  
Public Disclosure ◽  
The Subject ◽  
Audit Activity ◽  
Safety And Stability ◽  
The Capital Market

The Capital Market Board (CMB), carry outs audit and surveillance activities in capital markets in order to provide safety and stability of capital markets, protect the rights of investors and fulfill public disclosure. In consequence of audit activity, the CMB, within the scope of power which has been given by the statute law can apply some sanctions, such as administrative fine. The subject of the study is administrative fine applications imposed by the CMB on companies whose shares are processed in the Borsa Istanbul (BIST), between 2006 and 2013. The aim of this study is to determine due to the infringement of which provisions of the statue law which cause administrative fines as a result of te CMB’s audit activity within the scope of power which has been given by the statute law. According to this research's result, CMB mostly executed administrative fines in consequence of statue law related to material disclosure.

scholarly journals INVESTORS’ LEGAL PROTECTION AGAINST INSIDER TRADING IN CAPITAL MARKET IN INDONESIA

2021 ◽  
Vol 56 (4) ◽  
pp. 346-355
Author(s):  
Dewi Astutty Mochtar ◽  
Dewi Ayu Rahayu
Keyword(s):  
Insider Trading ◽  
Capital Markets ◽  
Capital Market ◽  
Stock Exchange ◽  
National Development ◽  
Legal Protection ◽  
Research Approach ◽  
Public And Private ◽  
Weak Supervision ◽  
The Capital Market

This study aimed to assess insider trading on a trading buying and selling shares in the capital market. Besides, it also evaluated investors' legal protection against insider trading that occurred in the capital market under the provisions of capital markets act 8 of 1995. The primary consideration of the choice of these studies is that this study was to examine the theoretical legal protection of investors in the practice of insider trading in the stock market, with the interpretation of Juridical Capital Markets Act, No 8 of 1995. This research approach uses the statute and case approaches, which refer to legislation and approaches based on cases. Capital markets have a strategic role in national development as one source of financing for the business and investment vehicle for the community. Capital markets are alternative funding for both public and private. Once the magnitude of the role of capital markets in national economic development did not rule violations contrary to the principles of disclosure of information, other than that the weak supervision system by the manager or supervisor stock exchange, can lead to insider trading. Insider trading can occur when someone is doing a transaction with a buy or sell stock based on material information and has not been open to the public obtained from a company insider. Insider trading can result in losses for investors who do not receive the same information. Investors who did not receive such information do not have the same opportunity to make a profit because so requires legal protection. Legal protection can be either preventive or repressive.

scholarly journals L’apport Des Marchés De Capitaux Au Financement Des PME Marocaines

2018 ◽  
Vol 14 (7) ◽  
pp. 250
Author(s):  
M. Mohamed Oudgou ◽  
M. Mohamed Zeamari
Keyword(s):  
Capital Markets ◽  
Capital Market ◽  
Market Reforms ◽  
Institutional Conditions ◽  
The Capital Market

Moroccan SMEs do not use generally capital market due to rigidity of the conditions. Moroccan authorities have introduced the measurements to deal with this problem and to encourage SMEs to access in the capital market since 2000. However, these measures were less efficient because they are multiple reason, but indeed, it still attributed to the financial and institutional conditions of access to capital market. The article target is to analyze capital market reforms and its contribution to financing Moroccan SMEs. In order to help us to determine the constraints of access the SMEs to direct finance. In fact, to achieve the target we need to adopt a methodology based on the analysis of secondary statistics and official reports of the main actors of the capital markets in Morocco.

The Shanghai-Hong Kong Stock Market

2015 ◽  
Vol 07 (03) ◽  
pp. 36-45
Author(s):  
Jing WAN
Keyword(s):  
Hong Kong ◽  
Stock Market ◽  
Capital Markets ◽  
Capital Market ◽  
Stock Markets ◽  
Market Access ◽  
Mainland China ◽  
Opening Up ◽  
Hong Kong Stock Market ◽  
The Capital Market

The Stock Connect scheme launched on 17 November 2014 was the first mutual market access between mainland China and Hong Kong stock markets. It is the biggest move ever in the opening up of the capital market. Experiences accumulated will be of great value to mainland regulators who will decide on how these experiences could be utilised for China’s future opening up of its capital markets and for accelerating renminbi internationalisation.

scholarly journals Perlindungan Hukum Bagi Investor Dalam Pasar Modal

2014 ◽  
Vol 2 (2) ◽  
Author(s):  
Hilda Hilmiah Dimyati
Keyword(s):  
Capital Markets ◽  
Capital Market ◽  
Financial Services ◽  
Legal Protection ◽  
Financial Services Industry ◽  
Crucial Aspect ◽  
The Public ◽  
Maximum Protection ◽  
Ministry Of Finance ◽  
The Capital Market

Abstract: Legal Protection for Investors in the Capital Market. Supervision in the financial services industry capital markets experienced a change of control by Bapepam-LK be supervised by the Financial Services Authority. Institutionally, Bapepam-LK is responsible to the Minister of Finance, as Bapepam-LK is under the auspices of the Ministry of Finance, while the Financial Services Authority is responsible to Parliament or the public. Crucial aspect on which the formation of the FSA is not maximum protection of the interests of consumers of financial services. In accordance with the problems that occur as above, the authors feel the need to examine the legal protection in the capital market. This writing will also examine the parties are entitled to legal protection based on Law No. 8 of 1995 and the Capital Market Law No. 21 of 2011 on the Financial Services Authority. Abstrak: Perlindungan Hukum Bagi Investor Dalam Pasar Modal. Pengawasan di bidang industri jasa keuangan pasar modal mengalami perubahan dari pengawasan yang dilakukan oleh Bapepam-LK menjadi diawasi oleh Otoritas Jasa Keuangan. Secara kelembagaan, Bapepam-LK bertanggung jawab kepada Menteri Keuangan, karena Bapepam-LK berada di bawah naungan Kementrian Keuangan, sedangkan Otoritas Jasa Keuangan bertanggung jawab kepada Dewan Perwakilan Rakyat atau masyarakat. Aspek krusial yang menjadi dasar pembentukan OJK adalah tidak maksimalnya perlindungan kepentingan konsumen jasa keuangan. Sesuai dengan permasalahan yang terjadi seperti diatas, maka penulis merasa perlu untuk meneliti tentang perlindungan hukum di pasar modal. Penulisan ini juga akan meneliti para pihak yang berhak atas perlindungan hukum berdasarkan pada Undang-Undang Nomor 8 Tahun 1995 Tentang Pasar Modal dan Undang-Undang Nomor 21 Tahun 2011 Tentang Otoritas Jasa Keuangan. DOI: 10.15408/jch.v1i2.1473

scholarly journals CRYPTOCURRENCIES OR CAPITAL MARKETS. COMPARATIVE ANALYSIS OF INVESTMENT EFFICIENCY IN 2011-2020

2022 ◽  
Author(s):  
Sylwester Kozak ◽  
Seweryn Gajdek
Keyword(s):  
Comparative Analysis ◽  
Interest Rates ◽  
Capital Markets ◽  
The Other ◽  
Investment Efficiency ◽  
Rates Of Return ◽  
Global Capital ◽  
Low Interest Rates ◽  
Investment Tool ◽  
Global Financial System

Cryptocurrencies have become an important element of the global financial system and a frequent investment tool in the last decade. The aim of this paper is to compare the efficiency of investments in the cryptocurrency market with investments in global capital markets. The study used the quotations of the analyzed instruments in the years 2011-2020. The investment efficiency was estimated using Sharpe and Sortino ratios. Research has shown that investments in cryptocurrencies were the most effective. They brought, on average, the highest daily rates of return, but on the other hand, they were characterized by the highest risk. Such a result could have been significantly influenced by the widespread persistence of ultra-low interest rates and a decline in the attractiveness of debt securities. The best results were obtained for investments in bitcoin and ethereum, which have the largest share of cryptocurrency market capitalization.

scholarly journals LANDASAN FILOSOFIS PENGATURAN PASAR MODAL DI INDONESIA: HARAPAN DAN KENYATAAN

2015 ◽  
Vol 9 (2) ◽  
pp. 181
Author(s):  
Marihot Janpieter Hutajulu
Keyword(s):  
Welfare State ◽  
Economic System ◽  
Capital Markets ◽  
Capital Market ◽  
Market Development ◽  
Market Regulation ◽  
The Republic ◽  
Capital Market Regulation ◽  
Met Expectations ◽  
The Capital Market

<p><strong>Abstrak</strong><strong></strong></p><p> </p><p>Keberadaan pasar modal di Indonesia dibutuhkan mengingat peranannya yang penting untuk menyokong kondisi perekonomian negara. Namun pasar modal sebagai lembaga yang berasal dari sistem ekonomi liberal-kapitalistik tidak serta merta dapat dengan mudah diadopsi dan diatur tanpa disesuaikan dengan filosofi bangsa Indonesia. Melalui tulisan ini, Penulis hendak menganalisis kesesuaian tujuan pengaturan dan pengembangan pasar modal di Indonesia dengan konsep Negara Kesejahteraan Indonesia pasca Amandemen Undang-Undang Dasar Negara Republik Indonesia Tahun 1945. Analisis tulisan ini menyimpulkan bahwa tujuan pengembangan pasar modal Indonesia adalah mewujudkan masyarakat yang adil dan makmur, namun tujuan pengaturan pasar modal itu sendiri belum sesuai dengan konsep negara kesejahteraan Indonesia serta belum memenuhi harapan konstitusional bangsa ini.</p><p><strong> </strong></p><p><em><strong>Abs</strong><strong>tract</strong></em><strong></strong></p><p>In Indonesia the existence of capital market is needed considering the important role to support the country's economy. But the capital market as an institution derived from the liberal-capitalistic economic system can not necessarily be adopted and arranged without adjustment to the philosophy of the Indonesian nation. Through this article, the author analyzes the suitability of regulation and development of capital markets in Indonesia with the concept of Indonesian welfare state after the amendment to the Constitution of the Republic of Indonesia of 1945. The analysis of this paper draws a conclusion that the purpose of the Indonesian capital market development is to realize a just and prosperous society, but the goal of the capital market regulation itself is not in accordance with the concept of Indonesia as well as the concept of welfare state and thus has not met expectations of the nation's constitutional expectations.</p><p> </p>

scholarly journals THE IMPACT OF RELIGIOUSITY TO PREFERENCES OF MUSLIM ‘S INVESTOR IN CAPITAL MARKET

2017 ◽  
pp. 115
Author(s):  
Rinda Asytuti
Keyword(s):  
Qualitative Research ◽  
Capital Market ◽  
The Other ◽  
Investment Behavior ◽  
Research Support ◽  
Know How ◽  
Banking And Finance ◽  
Other Hand ◽  
The Impact ◽  
The Capital Market

The current study aims at knowing know how far a religiosity affects a person’s behavior in the capital market. This qualitative research uses the religiosity theory constructed by Glork and Start . These results from the interview to 3 investors as the subjects of the research shows that the religiosity of Muslim investors in Pekalongan is not automatically guarantee their invesment behaviors. This research support the previous research conclusion that religiousity not automaticaly conducted muslim investment behavior in banking and finance. On the other hand there are some research have different conclusion.

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