The Financial Supervisory Service (FSS) Emergency Response Committee called for the suspension of the task force (TF) addressing legislation in response to government organizational restructuring within the FSS on the 18th, criticizing the TF’s operation as “hasty legislation” because the bill review period was only about two days.
In a statement issued the day before, the emergency committee argued that for the reorganization of the financial supervisory system, about 50 laws, including the FSS Establishment Act and the Banking Act, need to be amended, with over 9,000 provisions requiring review, which they claimed was being done in a short period of two days. They also criticized the initiative to reorganize the financial supervisory system under the pretext of strengthening financial consumer protection, asserting that it was, in reality, hasty legislation intended to worsen financial regulations. They warned management and department heads to stop operating the TF and instructed employees not to engage in related tasks.
They emphasized that the establishment of the Financial Consumer Protection Agency is a severe undermining of consumer protection functions and goes against the wishes of all FSS employees. They warned that continuing to operate the TF would mean condoning a superficial reorganization of the financial supervisory system and actively abandoning financial consumer protection.
The emergency committee also planned a rally in front of the National Assembly during lunchtime that day. It has been 17 years since FSS employees last headed to the National Assembly, which was during a protest against amendments to the financial supervisory organization in 2008.