CMB approves American Investment Bank BofA

BofA

The Capital Markets Board (CMB) announced on January 25 that it had authorized the activities of the American investment bank.

The Capital Markets Board (CMB) published Bulletin No. 2024-6 on January 25, 2024. In this bulletin, the CMB announced that it has approved the activities of the American investment bank (BofA). One of the services approved by the CMB is the general custody service.

According to these services approved by the CMB, it was decided to approve Bank of America Yatırım Bank AŞ’s request for permission to engage in general custody service activities.

BofA

General custody service is a custody service provided independently from the investment services and activities that are authorized and traded.

It is the custody of the financial assets of the customers with whom transactions are made by asset management companies and/or intermediary institutions within the scope of intermediary services or the financial assets transferred by the customer from another institution through transfer, under accounts to be opened with the custodian institution on behalf of the customer, keeping records, performing operational transactions and tax obligations.

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