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Mahmut Sutcu, chairman of Türkiye's Capital Markets Board (CMB), submitted his resignation Monday, citing health problems amid an investment fund crisis that has led to fund closures, liquidation orders and criminal investigations.
The turmoil began last month when several funds reported being unable to meet investors' redemption requests during a market sell-off, triggering a broad investigation into suspected price manipulation involving thinly traded stocks.
The CMB subsequently suspended trading in 131 funds managed by seven asset management companies, affecting nearly 500,000 investors.
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