Nowadays, with the increasing interest in the stock market, this abbreviation, which has become a habit for almost everyone, stands for “It is not investment advice” resources.

CMB In the posts of many people who are not licensed (Capital Markets Board) or who are not professionals in economic matters, for the purpose of ‘information’ or ‘suggestion’, this magical phrase of responsibilities within the scope of capital market legislation by using they thought they were saved We see.

“If a taxi driver, a hairdresser or someone you don’t know playing okey in a coffee shop talks to you about the stock market or the economy, then the problem is quite big!”

From famous stockbrokers Dundar Altay‘s statement about the risks in the stock market is quite remarkable. This saying emphasizes that investors should be careful at a time when the market has become popular among ordinary citizens and has even become part of daily conversations.

When the stock market is discussed by a very broad audience, it is generally assumed that the market is overvalued and a bubble forms It may indicate that it has started. This increases risks for investors because the market is not widely understood and analyzed. just because of its popularity Investing can cause prices to deviate from their true values.

This quote from Altay; It reminds investors in the stock market that they should trade based on their own research and analysis, and not on the overall popularity of the market. According to him, this requires caution and constant monitoring of market dynamics, especially for stocks that show rapid price increases.

The extraordinary growth rates of some stocks in 2020 are one of the concrete examples of this type of market behavior. This popularization of the stock market and its dissemination to the public has led to have to be careful It could be a sign of an era. For investors, this increases the need to carefully evaluate market dynamics and potential risks.

Some people think that this abbreviation “ytd” is a “legal notice” required by the CMB.

Merely providing information about any investment instrument does not constitute investment advice. However, information on capital market instruments, the partnerships and organizations that issue them, and market trends is not available. router written or oral information in nature, is considered outside this scope.

Nowadays people say “it’s not investment advice” even when sharing general information about a stock. they felt they had to do that We are in a period.

According to the legislation, there is no problem in information situations where no investment advice is given. So in short; In expressions such as the general functioning of the market, the share price development, sectoral expectations and the compilation of publicly available data on the topics There is no need to use it.

However, if we look at the form we often encounter in the virtual world, this situation is somewhat contradictory.

So above all In Telegram groups Those who bid on a certain stock and say it will go up or down that much end up writing this acronym and saying this that they have freed themselves from their responsibility they think.

However, this is not entirely the case; If there is a situation involving investment advice regarding a share, the use of this abbreviation is prohibited by law. It does not provide complete avoidance of responsibility.

In the capital markets Determination of principles and rules for individuals and institutions that will make investment recommendations It is the responsibility of the Capital Markets Board. The presentation of investment recommendations on any platform, from print to digital media, is subject to regulations set by the Capital Markets Board.

The most important legal regulation that provides guidelines in this area and regulates investment advice activities was published on December 6, 2012 under number 6362. In the Government Gazette published and entered into force Capital Markets Act‘Stop.

“It is not investment advice” or its abbreviation YTD The expression is used by persons or institutions providing financial advice to indicate that the information they provide does not fall within the scope of investment advice and does not contain recommendations specific to their personal financial situation. However, this warning is in accordance with the legal obligations and regulations established by the Capital Markets Board (CMB). does not provide immunity from liability.

Examining the Capital Markets Law No. 6362, the crimes of transaction-based market fraud and information-based market fraud are regulated under the Market Fraud heading of the law. The relevant regulations read as follows:

• ARTICLE 107 – (1) Those who buy or sell, give orders, cancel orders, change orders or carry out account movements to create a false or misleading impression as to the prices, price changes, supply and demand of capital market instruments will be sentenced to prison terms of three to five year. years and imprisonment of five thousand to ten thousand days, and shall be punished with a judicial fine of up to The amount of the judicial fine to be imposed for this crime cannot be less than the benefit obtained by committing the crime.
• (2) (Modified: 27/3/2015 – 6637/11 art.) Providing false, inaccurate or misleading information, creating rumors, providing news, making comments or drawing up reports or disseminating them in order to prices and values ​​of the capital market instruments or the decisions of investors, and those who benefit in this way, will be punished with imprisonment of three to five years and a judicial fine of up to five thousand days.
• (3) The person who has committed the crime described in the first paragraph shall, by expressing remorse, transfer to the Treasury an amount of money equal to twice the benefit he has obtained or caused to be obtained, and not less than five hundred thousand Turkish liras; a) If he pays before the investigation begins, he will not be penalized. b) If the person pays during the investigation phase, the fine to be imposed will be halved. c) If payment is made during the prosecution phase up to the verdict, the fine to be imposed will be reduced by one third.

As a result, we can say that messages posted “for the purpose of guiding investors” about the capital markets constitute the crime of market fraud.

In this case, the people who shared it It is important to determine the goal. In making this determination, the phrase “YTD is not an investment recommendation” is important to the extent that it changes the direction of the objective reflected in the content of the message.

A YTD note at the end of a post that contains investment advice and has a strong purpose of influencing investors’ decisions will not, in fairness, indicate that this purpose of influencing does not in fact exist. And in the Capital Markets Act Elements of market fraud will occur.

Investment advice only Portfolio management companies and recognized investment experts can provide this. You do this by dividing your portfolio based on your risk perception, and not on a stock basis.

“Bull season is coming; throw 300-500, forget it.” Not by trusting those who say; Do it by educating yourself, self-learning with investment awareness and making a decision as a result. Listen to everyone if necessary, but you make the final decision, Don’t let anyone else decide for you. Because ultimately you are the victim and you have to pay for the damage.

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