Dispute Resolutions of The Disputes Between Investors and Investment Firm in Turkish Capital Market System

Abstract

There might be disputes derived from exchange transactions and transactions other than exchange between investors and investment firms (intermediary institutions and banks) in capital markets. To resolve these disputes, it is always possible to appeal to the judicial justice process. Except judicial justice process, with arbitration and intermadiary, it is possible initiate alternative dispute resolutions in Turkish capital market system. If the dispute derives from exchange transaction, it is possible to appeal to Borsa ?stanbul. Exchange transaction means the transactions from placing order until clearing. Objection regarding the decisions taken by Board of Directors of Borsa Istanbul before Capital Markets Board and also objection regarding the decisions taken by Capital Markets Board before courts can be made. It is possible to apply to arbitration within Turkey Capital Markets Association for the disputes derived from transactions such as custody for capital market instruments, keeping the register, occuring of virement transactions against customer?s instructions, exercising of subscription right. In this study the resolution of disputes derived from exchange transactions and capital markets transactions other than exchange in Borsa Istanbul and Turkey Capital Markets Association.