Turkiye Sigorta AS shares extended losses after local media reported that two of its top executives were arrested as part of a sweeping probe into allegations of market manipulation in Turkish funds.

Norway’s sovereign wealth fund said it’s among the investors that have been hurt by Turkey’s fund crisis, and has taken steps to review its stock holdings in the country.

The owner of Market Financial Solutions Ltd. is facing a growing barrage of lawsuits as creditors try to recover about £2.3 billion ($3 billion) of loans they had extended to the UK property company that collapsed amid allegations of widespread fraud.

Norway’s $2.3 trillion sovereign wealth fund held on to shares in three Turkish companies this year even after regulators found in 2025 that the stocks had been manipulated.

Norway’s sovereign wealth fund was a key investor in an initial public offering underwritten by Tera Yatirim Menkul Degerler AS just two months before the brokerage firm became the center of the biggest fund scandal in Turkish history.

A brokerage in London with links to Tera Yatirim Menkul Degerler AS, the firm at the center of Turkey’s fund meltdown, had a record 2025 fueled by a 283% surge in stock trading income.

For a long time, it seemed little could stop Altunc Kumova, a discreet businessman who became one of Turkey’s richest people after a meteoric rise in his finance firm’s stock.

HSBC Holdings Plc is set to start its search for a new chief financial officer, parsing through a pool of internal and external candidates willing and qualified to take on one of the biggest jobs in global finance. The bank is looking to replace Pam Kaur, who unexpectedly announced Thursday she would retire from the role in 2027.

Investors are piling into an arbitrage trade in euro money markets that’s gaining traction as the region’s financial conditions tighten.

Joh. Berenberg, Gossler & Co. KG and Brookfield Asset Management Ltd. are battling over the future of GoldenPeaks, an energy company staring at collapse after borrowing $1.5 billion for European solar-power projects.

The UK’s audit watchdog is probing accountancy firms linked to Market Financial Solutions Ltd., the mortgage lender backed by multiple Wall Street banks that collapsed in February.

Cryptocurrency firm HTX has been sanctioned by the UK government, who allege that the exchange was part of “infrastructure” used by Russia to circumvent sanctions and helped move $1.5 billion back to the Kremlin.

Barclays Plc hopes to get back much of the £500 million ($674 million) it lent to Market Financial Solutions Ltd. even as insolvency officials overseeing the now-collapsed mortgage lender remain uncertain on how much can be recovered.

At first, it was just a curiosity in Turkey’s financial circles: An obscure brokerage firm with a stock that went up and up.

A former top trader and partner at Davidson Kempner Capital Management accused the firm and its investing chief, Tony Yoseloff, of ousting him last year after he attempted to expose wrongdoing.

Market Financial Solutions Ltd. faces an investigation by the UK financial regulator, marking the first publicly disclosed action by authorities into the mortgage lender that collapsed owing billions to Wall Street lenders.

Citigroup Inc. provided a £100 million ($134 million) funding line to Interbridge Mortgages, another fast-growing UK lender backed by Paresh Raja, just as his Market Financial Solutions Ltd. was hurtling toward collapse.

Officials overseeing the wind-down of Market Financial Solutions Ltd., the UK mortgage lender that borrowed more than £2 billion ($2.7 billion) from Wall Street backers, have obtained a worldwide asset-freezing order against owner Paresh Raja.

A London court blocked a bid by the chief executive officer of collapsed property lender Market Financial Solutions Ltd. to have his preferred officials oversee the insolvency of one of the group’s entities.

A company closely aligned with Paresh Raja’s now-defunct mortgage lender Market Financial Solutions was allegedly used to siphon off funds from entities backed by Barclays Plc and a firm majority owned by Brookfield Asset Management Ltd.