Muhsin Atcı has been named as the new chair of the Turkish market regulator, Capital Markets Board (SPK), with Ersin Başar Ekmekci appointed as deputy chair, according to a decision published in the country's Official Gazette on Sunday.
Atcı's predecessor, Mahmut Sütçü, was dismissed from his post as SPK chair on Oct. 20 amid the turmoil affecting the country's stock exchange and the liquidation of a number of funds.
The crisis began in the middle of September after several funds said they could not meet investors' redemption requests during a market sell-off. That prompted a wide investigation into suspected price manipulation in a number of thinly traded stocks.
SPK quickly suspended trading in 131 funds run by seven asset management companies and placed them into liquidation.
Atcı was previously head of the country's tax audit board.
The Official Gazette decision, signed by President Recep Tayyip Erdoğan, also appointed Yasemin Girici as a member of the board.
