Adminitrative sanctions that are imposed by Capital Market Board And The Judicial Audit

Administrative sanctions are such administrative acts that are established though applying the procedures of administrative law, and impose restrictive actions on the individuals. It is adopted that the independent administrative are empowered to impose sanctions as well as other administrative bodies. The sanctions to be imposed as the result of the audits to be performed by the Capital Market Board, the first independent administrative authority, have been set out in the Capital Market Law. These include revoke of signatory power, imposing transaction prohibition, imposing administrative penalty, and deciding upon gradual advise. Besides these, there are such cases where the Capital Market Board is assigned for imposing of sanctions by virtue of special laws and other regulations as well as such cases where it indirectly gets involved in imposing of sanctions by the corporations under its surveillance. After all, there are such tasks assigned to the Board in respect of application of criminal sanctions. The Capital Market Board, while applying such sanctions, must respect all legal conditions regarding the administrative acts. Otherwise, any decision of administrative sanction may be revoked and/or any liability of indemnification may arise therefrom on the part of the administration as a result of judicial audit.