July 19 Official Gazette Investment Disclaimer Sets New Transparency Standard for Borsa İstanbul

On July 19, 2025, the Official Gazette published a notice stating that investment information, comments, and recommendations do not constitute investment advisory services. The notice emphasizes that the information provided to investors is for informational purposes only and should not be construed as personal investment advice.

The Gazette's Investment Disclaimer: What It Is and Who It Affects

The notice, appearing in Official Gazette issue 32214, outlines that investment advisory services are rendered under a contract between advisory firms, portfolio management companies, banks not accepting deposits, and their clients. This warning applies to all investment instruments and related financial products traded on Borsa İstanbul.

Limits of Investment Advisory: Legal Framework and Application

The text clarifies that comments given outside an investment advisory agreement are based on personal opinions and may not align with the reader's financial situation or risk‑return preferences. It also warns that relying solely on this information for investment decisions may not yield outcomes suited to one's expectations.

Effects on Borsa İstanbul and Portfolio Managers

■Borsa İstanbul‑licensed investment advisors must include this disclaimer in any report they provide to clients.

■Portfolio management firms should attach the notice to fund fact sheets to enhance transparency.

■Banks that do not accept deposits must use the same text in credit‑card and financial product promotions to ensure legal compliance.

Caner Yılmaz: While such disclosures rarely move markets directly, they shape investor information‑gathering habits and build long‑term trust. Greater transparency encourages retail investors to scrutinize advertisements and headline recommendations more critically, fostering a more informed and balanced investment environment over time.