JPMorgan Menkul Degerler AS, the group's Turkish securities arm, has applied to stop its capital market activities and drop its intermediary status, subject to the Capital Markets Board signing off. The firm said the license exit is a housekeeping step to align its legal standing with years of inactivity. "The decision was taken following discussions with the Capital Markets Board over the past years," it said, adding that the move is unrelated to current events in Turkey.
In a follow up, the company said the brokerage has carried out no capital markets transactions and has not, in Turkey, provided investment services at any time after July 2015. A regulatory filing shows the unit held 67 million liras, or about 1.4 million dollars, in assets as of end-2025 and recorded an operating loss of roughly 7 million liras. None of this affects JPMorgan's Istanbul banking branch, which will continue business as usual.
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In plain English: JPMorgan is closing a dormant brokerage, not pulling back its bank. The bigger story is a stressed market and changing competition in local brokerage, both of which can shape liquidity, pricing, and risk for investors with exposure to Turkey.
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