Capital Markets Board of Turkey

What Capital Markets Board of Turkey does

The Capital Markets Board of Türkiye (CMB; Sermaye Piyasası Kurulu) is the statutorily designated regulatory and supervisory authority for Turkish capital markets, established in 1981 and operating under the Ministry of Treasury and Finance. It exercises exclusive regulatory authority under the Capital Markets Law over the full Turkish capital markets infrastructure, including Borsa İstanbul (stock exchange), Takasbank (clearing center), MKK (central securities depository), KAP (public disclosure platform), TEFAS (fund platform), TSPB (capital markets association), SPL, GEFAS, YTM, and TDUB. Its functional mandate is investor protection, market integrity, fair and transparent securities trading, and fostering development of Turkish capital markets through rule-making, licensing, and enforcement.

CMB does not offer commercial products or services and does not generate revenue. Its "output" consists of legislation, communiqués, and guidelines (for example, the project finance funds and bonds communiqué that entered into force 17 July 2021 and the green/sustainable debt instruments guidelines issued 4 March 2024), public consultations, and supervisory actions. The board communicates through its official website (cmb.gov.tr), publishing announcements, regulatory guidelines, meeting reports, and investor education content. The technology stack is limited to a public-facing government website; no APIs, SDKs, or proprietary technology platforms are disclosed.

Internationally, CMB is an active participant in IOSCO (with Chairman İbrahim Ömer Gönül serving as Vice Chair of the Growth and Emerging Markets Committee and as a member of the IOSCO Board), the OECD Corporate Governance Committee, the COMCEC Capital Market Regulators Forum, and has signed bilateral MoUs with regulators in Azerbaijan and Qatar. Operating geographies are single-country (Türkiye), headquartered in Ankara with an Istanbul representation office.

Name

Capital Markets Board of Turkey

Legal name

Capital Markets Board of Türkiye

Website

https://cmb.gov.tr

Company type

Public

Founded year

1981

Operating status

Operating

Short description

The Capital Markets Board of Türkiye is the government's statutory regulator of Turkish securities markets, supervising the exchange, clearing, depository, and disclosure infrastructure under the Ministry of Treasury and Finance.

Ownership category

akta.pro rank

Product category

Financial Regulatory Services

akta.pro primary industry

Financial Services Regulators (Banking, Securities, Insurance) (BPAIAOAK)

Keywords

• Securities regulation
• Capital markets oversight
• Investor protection
• Market supervision
• Financial regulatory authority

Headquarters

HQ city

Ankara

HQ country

Türkiye

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others

Distribution channels1 record

Marketing channels1 record

Core offering

The Capital Markets Board of Türkiye (CMB) is the governmental regulatory authority that regulates and supervises Turkey's securities and capital markets under the Capital Markets Law. It issues capital market legislation, regulates public companies and capital market institutions such as Borsa Istanbul, Takasbank, and MKK, supervises securities trading activities, and enforces investor protection and market transparency.

Product overview

The Capital Markets Board of Türkiye (CMB) is a regulatory body that oversees the Turkish capital markets. It does not offer commercial products or services in the traditional sense. Its functions include issuing capital market legislation, regulating public companies, and supervising capital market activities. The website provides information about its organizational structure, legal framework, announcements, and investor guidance.

Differentiator

Problem solved

Functional benefit

Products and services

• Capital Markets Regulation and Supervision

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core.

• COMCEC Capital Market Regulators (CMR) ForumcoreStrategic or Co-development Partner · 15 October 2025The 14th COMCEC Capital Market Regulators Forum Annual Meeting was conducted virtually by the CMB on October 15, 2025. Turkey previously hosted the 6th Capital Market Regulators Forum meeting in Istanbul, fostering cooperation among OIC member countries' capital market regulators.
• Qatar Financial Center Regulatory Authority (QFCRA)coreStrategic or Co-development Partner · 1 February 2022A Memorandum of Understanding was signed between the Capital Markets Board of Turkey and Qatar Financial Center Regulatory Authority to enhance cooperation and information sharing in financial regulation.
• Central Bank of the Republic of AzerbaijancoreStrategic or Co-development PartnerA memorandum of understanding (MoU) was signed between the CMB and the Central Bank of the Republic of Azerbaijan to establish cooperation in capital markets regulation and supervision between the two countries.
• IOSCO (International Organization of Securities Commissions)coreStrategic or Co-development PartnerCMB Chairman Mr. İbrahim Ömer Gönül serves as Vice Chair of IOSCO's Growth and Emerging Markets Committee (GEMC) and as a member of the IOSCO Board. The CMB actively participates in IOSCO meetings including the World Investor Week initiative promoting financial education and investor protection worldwide.
• OECD (Organization for Economic Co-operation and Development)coreStrategic or Co-development PartnerCMB participates in the OECD Corporate Governance Committee. CMB Chairman referenced the Factbook 2025 showing progress in shareholder engagement, board independence, accountability, and sustainability disclosure. Turkey was mentioned among good practice examples in the OECD report on shareholder meetings.

Recent moves6 records

Expansion highlights4 records

Direct peers

• Financial Conduct Authority (FCA), UK: UK conduct regulator for financial services including securities markets. Comparable in scope of conduct supervision, listing rules, and issuer oversight.
• Securities and Exchange Board of India (SEBI): India's securities regulator with a near-identical mandate over exchanges, intermediaries, issuers, and collective investment schemes. A highly comparable emerging-market peer given similar market structure and scale.
• China Securities Regulatory Commission (CSRC): China's national securities regulator overseeing stock and bond markets, public offerings, and intermediaries. Comparable to CMB as a single state-led regulator with comprehensive capital markets oversight.
• Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin): Germany's integrated financial regulator covering banking, securities, and insurance supervision. Comparable to CMB in its cross-sector regulatory mandate over capital markets participants.
• U.S. Securities and Exchange Commission (SEC): U.S. federal securities regulator with a comparable mandate over capital markets, disclosure, and investor protection. The most globally influential peer, often the benchmark for disclosure and enforcement regimes.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/spkgovtr

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Capital Markets Board of Turkey