TSPB ANNUAL REPORT 2019

56 TCMA 2019 ANNUAL REPORT OVERSIGHT AND DISPUTE RESOLUTION Oversight Our Association is authorized and is assigned to regulate, supervise and enforce issues delegated by legislation or by the Capital Markets Board. In this context, various audits are conducted when necessary and legislative provisions are applied in the case of non-compliance. TCMA Client Disputes Arbitration Committee The Capital Markets Board of Turkey Statute charges our Association with the duty to assist in the resolution of disputes arising from off-exchange transactions among our members or between our members and their customers; set up the Arbitration Committee and the necessary infrastructure subject to the procedures and principles that will be drawn up for this purpose and approved by the Capital Markets Board of Turkey (CMB). The TCMA Arbitration Committee Guidelines drawn up, based on the above-mentioned duty, sets out the formation, authority, duties, and responsibilities of the Arbitration Committee and the principles and procedures for the applications and their results. Turkish Capital Markets Association Client Dispute Arbitration Committee reviews and resolves the disputes arising in relation to or from the off-exchange Capital Markets transactions among the Association members, engaged in capital markets activities or between such the Association members and their clients and resolves the compensation requirements of the Association members (brokerage firms, banks, asset management companies and mutual trusts) for damages and loss. Ever since its establishment, a total of 612 applications have been received until the end of 2019 of which 413 applications were relayed directly to our Association and 199 through the Capital Markets Board. The summary table of the applications is detailed below. 2019 Arbitration Committee Application Table (Summary) Number File in the evolutionary stage 55 Under the review of the Grand Jury 48 Evaluated and resolved 291 Resolved. The decision was finalized as there were no objections. 209 Resolved. Notified to CMB due to the violation of legislation 30 Objection 52 Resolved. Following the objection was sent to CMB. Awaiting CMB Decision. 27 Resolved. Following the objection, per the decision of CMB to break the objection after the appeal, in the HC review. 5 Resolved. Following the objection, the CMB approved and the decision was finalized. 20 Reconciliation, Complaint was withdrawn 126 Rejected. Out of the Scope of the Committee 92 TOTAL 612