Regulatory Alerts2021-09-01
Added · Updated
Communiqué on Principles Regarding Financial Reporting of Investment Funds
The Capital Markets Board of Turkey issued Communiqué II-14.2 to establish mandatory procedures and principles for the preparation, submission, and public disclosure of financial reports by investment funds. The regulation requires funds to prepare annual and semi-annual financial statements based on Turkish Accounting Standards and daily price reports, while imposing strict liability on founders and board members for the accuracy and authenticity of these disclosures. Furthermore, it mandates independent audits for annual statements, specifies valuation methods for portfolio assets, and sets precise deadlines for publishing reports on the Public Disclosure Platform.
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