On 2026-10-12, Vice President Cevdet Yılmaz took the podium at the AA Editor's Desk to speak about recent developments in Turkey’s fund market. His remarks came amid heightened scrutiny of certain investment vehicles and followed a series of regulatory moves aimed at preserving market stability. He framed the discussion as part of the government’s broader effort to safeguard the financial system while maintaining transparency.
Yılmaz announced that authorities had liquidated 7 companies and 131 funds. The numbers represent the total count of entities that were removed from the market as part of the response to identified problems.
Explaining the timing, the Vice President said that officials decided to execute very rapid liquidations in a certain area of the fund market. The goal, he stated, was to prevent any incident occurring there from damaging the overall financial structure. By acting swiftly, the authorities sought to isolate potential trouble before it could spread.
A key point Yılmaz emphasized was that neither ordinary nor extraordinary liquidations drew on public resources.
A key point Yılmaz emphasized was that neither ordinary nor extraordinary liquidations drew on public resources. He explicitly said that no state money was used in the process, reinforcing the idea that the operation was funded entirely through private or market‑based mechanisms.
The Vice President noted that judicial and administrative investigations are still underway, with the State Audit Board taking the lead. He disclosed that 15 inspectors and auditors are currently working on the case, examining the circumstances that prompted the liquidations. The board’s role is to oversee the inquiry and ensure that any wrongdoing is identified.
Yılmaz closed his remarks by reiterating the government’s dedication to increasing transparency and rebuilding trust in the financial sector. He framed the liquidations and ongoing inquiries as steps toward a clearer, more reliable market environment where investors can have confidence in the integrity of the system.
As of the date of his statement, the liquidation of the 7 companies and 131 funds has been completed, while the investigations directed by the State Audit Board continue with the 15 assigned personnel. The administration maintains that the measures taken were necessary to protect the broader financial structure and that further updates will follow as the inquiry progresses.