Research Article

Trade-Based Market Fraud (Manipulation) Crime in Turkish Law

Volume: 1 Number: 1 June 19, 2025

Trade-Based Market Fraud (Manipulation) Crime in Turkish Law

Abstract

Capital markets play an important role for the national economy because companies can grow by making new investments with the funds they obtain from these markets. Due to this importance, it is also very important to maintain investors' confidence in the capital market. In order to preserve this confidence, manipulations that lead to artificial determination of stock prices should be prevented. In Turkish law, the crime of manipulation is regulated under the name of ‘Market Fraud’ in Article 107 of the Capital Markets Law No. 6362. This crime is regulated in the Law with a dual distinction as ‘trade-based market fraud’ and ‘information-based market fraud’. In our study, we will only examine the crime of trade-based market fraud. This crime may be committed by means of certain transactions that appear lawful in form but are intended to manipulate investors in order to artificially fix prices.

Keywords

References

  1. Aggarwal, Rajesh K. and Guojun Wu. “Stock Market Manipulations”. Journal of Business 79, 4 (2006): 1915-53, https://doi.org/10.1086/503652.
  2. Artuk, Mehmet Emin, and Ahmet Gökcen, and Mehmet Emin Alşahin, and Kerim Çakır. Ceza Hukuku Genel Hükümler. Adalet Yayınevi, 2022.
  3. Bainbridge S. M. “Insider Trading: An Overview.”, Encyclopedia of Law and Economics, (2000): 773-98 https://dx.doi.org/10.2139/ssrn.132529.
  4. Balan, Arzu. Ekonomik Bir Suç Olarak Sermaye Piyasası Kanununda Düzenlenen İşleme Dayalı Piyasa Dolandırıcılığı Suçu. On İki Levha Yayıncılık, 2019.
  5. Blumenberg, Axel-Dirk. Marktmanipulation und Compliance: Eine Untersuchung unter Berücksichtigung des deutschen und des spanischen Rechts. Universität Passau, 2016.
  6. Comerton, Forde C. and Talis J. Putnins. ‘Stock Price Manipulation: Prevalence and Determinants’, (2014) 18 (1) Review of Finance 23-66.
  7. Dursun, Selman. Sermaye Piyasasında Gerçeğe Aykırılıktan Doğan Suçlar. On İki Levha Yayıncılık, 2010.
  8. Fischel, Daniel R. and David J. Ross, “Should the Law Prohibit ‘Manipulation’ in Financial Markets?”, Harvard Law Review, Vol. 105, No: 2 (1991): 503-53, https://doi.org/10.2307/1341697.

Details

Primary Language

English

Subjects

Comparative Law

Journal Section

Research Article

Publication Date

June 19, 2025

Submission Date

November 23, 2024

Acceptance Date

June 3, 2025

Published in Issue

Year 2025 Volume: 1 Number: 1

APA
Duman, B. (2025). Trade-Based Market Fraud (Manipulation) Crime in Turkish Law. Eurasian Journal of Comparative Law, 1(1), 45-66. https://izlik.org/JA44GL27AF
AMA
1.Duman B. Trade-Based Market Fraud (Manipulation) Crime in Turkish Law. Eurasian Journal of Comparative Law. 2025;1(1):45-66. https://izlik.org/JA44GL27AF
Chicago
Duman, Buminhan. 2025. “Trade-Based Market Fraud (Manipulation) Crime in Turkish Law”. Eurasian Journal of Comparative Law 1 (1): 45-66. https://izlik.org/JA44GL27AF.
EndNote
Duman B (June 1, 2025) Trade-Based Market Fraud (Manipulation) Crime in Turkish Law. Eurasian Journal of Comparative Law 1 1 45–66.
IEEE
[1]B. Duman, “Trade-Based Market Fraud (Manipulation) Crime in Turkish Law”, Eurasian Journal of Comparative Law, vol. 1, no. 1, pp. 45–66, June 2025, [Online]. Available: https://izlik.org/JA44GL27AF
ISNAD
Duman, Buminhan. “Trade-Based Market Fraud (Manipulation) Crime in Turkish Law”. Eurasian Journal of Comparative Law 1/1 (June 1, 2025): 45-66. https://izlik.org/JA44GL27AF.
JAMA
1.Duman B. Trade-Based Market Fraud (Manipulation) Crime in Turkish Law. Eurasian Journal of Comparative Law. 2025;1:45–66.
MLA
Duman, Buminhan. “Trade-Based Market Fraud (Manipulation) Crime in Turkish Law”. Eurasian Journal of Comparative Law, vol. 1, no. 1, June 2025, pp. 45-66, https://izlik.org/JA44GL27AF.
Vancouver
1.Buminhan Duman. Trade-Based Market Fraud (Manipulation) Crime in Turkish Law. Eurasian Journal of Comparative Law [Internet]. 2025 Jun. 1;1(1):45-66. Available from: https://izlik.org/JA44GL27AF

Eurasian Journal of Comparative Law © 2024 (by Afyon Kocatepe Üniversitesi Hukuk Fakültesi) is licensed under CC BY-NC 4.0 (Creative Common Licence)