started · updated
JP Morgan clarifies brokerage license cancellation in Turkey
JP Morgan Menkul Değerler A.Ş. has applied to the Capital Markets Board (SPK) to cancel its brokerage license in Turkey. The company clarified that this move is intended to align its legal status with its actual operations, noting that it has not conducted any capital market activities or provided investment services since July 2015.
JP Morgan emphasized that this application does not signify a withdrawal from the Turkish market. The company stated that its brokerage status is legally distinct from JP Morgan Chase Bank, N.A. (Istanbul Branch), which will continue its banking operations uninterrupted and has recently decided to expand its banking activities in the country.
The SPK has outlined a process for customers who may have outstanding rights or claims related to the company's previous investment services. Such individuals have a three-month window from the announcement date to submit supporting documentation to both the company and the SPK.
Entities
Capital Markets Board · J.P. Morgan Menkul Değerler A.Ş. · JP Morgan Chase Bank, N.A. · JP Morgan Menkul Değerler A.Ş. · JPMorgan Chase · Turkey
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] J.P. Morgan Menkul Değerler A.Ş. will apply to the SPK to cancel its capital markets activity license. www.korkusuz.com.tr · www.sondakika.com · onedio.com
- [● 2 SOURCES] The cancellation of the license will not affect the group's banking operations in Turkey. www.sondakika.com · onedio.com
- [● 3 SOURCES] The company has not conducted capital markets activities since July 3, 2015. www.korkusuz.com.tr · www.sondakika.com · onedio.com
- [● 2 SOURCES] If approved, the company will lose its status as a brokerage firm. www.korkusuz.com.tr · onedio.com
- [● 2 SOURCES] Customers with claims must submit documentation to the company and SPK within three months. www.korkusuz.com.tr · onedio.com