Determinative Factors Effecting the Turkish Securties Firms Industry and the Impacts of the Financial Instruments Directive (MiFID) to the Sectoral Developments

Muhasebe ve Vergi Uygulamaları Dergisi, Vol. 2, No. 3, pp. 1-34, 2009

31 Pages Posted: 12 May 2011 Last revised: 25 Dec 2012

See all articles by Yener Coskun

Yener Coskun

Capital Markets Board of Turkey

Date Written: September 1, 2009

Abstract

First regulations of securities firms were going back to Banking Crisis emerging at early 1980’s. The number of securities firms in Turkey were booming in the late 1980’s and early 1990’s but the sector has been shrinking as a trend in terms of number of the securities firms nearly more than a decade. In this article, in the first place, the author is analysing the determinative factors effecting the securties firms’ cycle from the very beginning of the official establishment of the sector. In the second place, prospective impacts of the EU’s Markets in Financial Instruments Directive (MiFID) to the securties firms sector are assessing taken into account of prospective regulation areas. In result, it is argued that however it would have limited benefits to the sector, the potential impacts of the prospective MiFID regulations should not be overrated. Therefore, it does not seem to realistic to expect that prospective MiFID regulations may create additional cash inflow or new business lines changing the characteristics of the sector.

Note: Downloadable document is in Turkish.

Suggested Citation

Coskun, Yener, Determinative Factors Effecting the Turkish Securties Firms Industry and the Impacts of the Financial Instruments Directive (MiFID) to the Sectoral Developments (September 1, 2009). Muhasebe ve Vergi Uygulamaları Dergisi, Vol. 2, No. 3, pp. 1-34, 2009, Available at SSRN: https://ssrn.com/abstract=1824936

Yener Coskun (Contact Author)

Capital Markets Board of Turkey ( email )

Eskisehir Yolu 8. km No:156
Ankara, 06530
Turkey

HOME PAGE: http://ankara.academia.edu/yenercoskun

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