JPMorgan's Turkey unit to seek cancellation of brokerage license

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J.P. Morgan Securities Inc., one of the world's largest US-based investment banks, is preparing to apply to the Capital Markets Board (SPK) for the cancellation of its capital market operating license. If the application is accepted by the Board, the company will cease its capital market activities.

tgrthaber.com

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JP Morgan Securities Inc. has clarified the news regarding the cancellation of its operating license. The statement emphasized that the decision was made to expand banking operations in Türkiye.

Tr724

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JPMorgan Securities Inc., the Turkish subsidiary of the US-based financial institution JPMorgan, has decided to apply to the Capital Markets Board for the cancellation of its operating license. While the initial announcement was interpreted as a withdrawal from Türkiye, the company issued a new statement announcing that its banking activities will continue. It has emerged that the brokerage firm has not conducted capital market activities since …

turkiyegazetesi.com.tr

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The giant financial institution JP Morgan has put an end to the "Is it withdrawing from Türkiye?" debate that began with the cancellation of its brokerage firm's operating license due to its inactivity since 2015. The company stated that the decision does not mean a withdrawal from Turkey, and that JP Morgan's Istanbul branch will continue its banking operations and its growth plans remain unchanged.