Abstract
Capital Markets Board of Turkey (CMB) is the regulatory and supervisory authority in charge of the securities markets in Turkey along with ISE which provides the platform for the trading of securities. Empowered by the Capital Markets Law (CML), which was enacted in 1981, the CMB has been making detailed regulations for organizing the markets and developing capital market instruments and institutions in Turkey. Based on the main objectives of fair and orderly functioning of the markets and protecting the rights of investors, the CMB has a wide range of responsibilities. Its first and foremost function is to make innovative regulations, and perform supervision with the aim of ensuring fairness, efficiency and transparency in Turkish capital markets, and improving their international competitiveness. The paper talks about the functions of the ISE and the stock market prevailing in Turkey. It then goes ahead to discuss the CMB and its objectives and finally states the legal framework of capital markets and the way CMB acts as a regulatory framework of the stock market in Turkey.
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