Official Gazette removes the heads of Türkiye's market and audit regulators

The decision rests on article 119 of capital markets law 6362 and never uses the words 'resignation' or 'at his own request'. Sütçü was appointed chairman on 9 May 2026 and lasted five months in the seat. No successor was named, and under the statute the deputy chairman acts in his place. The same gazette removed İbrahim Ömer Gönül, head of the Public Oversight, Accounting and Auditing Standards Authority. Kutluhan Taşkın, deputy head of the Strategy and Budget Directorate, became deputy minister of treasury and finance, while Şinasi Candan, director general of the State Supply Office, took over the Revenue Administration.

The departures land in the middle of a fund crisis that ties up 455,758 investors. On 17 September the SPK ordered the wind-up of 131 funds run by seven portfolio companies. Deputy Minister of Treasury and Finance Osman Çelik filed for retirement on 19 October; Bianet reports that Çelik's son-in-law İskender Balcı was arrested in the fund investigation on 2 October. The board running the crisis held its sixth meeting on 18 October. The Economic Coordination Board said interim payments would begin shortly after the wind-up bill clears parliament. In the same process the deposit insurance fund TMSF appointed a trustee to Tera Yatırım Teknoloji Holding.

The market reaction was severe, though the sources diverge on the figure. Daily Sabah and Bloomberg HT wrote that BIST 100 closed 19 October down 2.49% at 11,430.14 points, with turnover reaching 106.1 billion lira. Yeniçağ reported a fall of 1.52%, most likely an intraday reading. The leasing and factoring index dropped 7.39% while the banking index rose 0.28%, the day's only gainer. The index had already shed 2.9% on 16 October after an MSCI decision. The structural constraint runs deeper than a change of personnel, because the supervisory bench needed to close the confidence gap opened by 131 funds in wind-up is still missing.