News Summary

• The decisions also removed former SPK Chairman İbrahim Ömer Gönül as head of the Public Oversight, Accounting and Auditing Standards Authority.
• The crisis hit the headlines just over a month ago, prompting prosecutors to open an investigation into allegations of widespread market manipulation.
• It began when several funds were unable to satisfy redemption demands, with regulators placing seven firms into liquidation that manage 131 investment funds with assets reportedly worth some $17 billion.