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Timur Turlov، the CEO of Freedom Holding Corp.، has received an official warning from the U.S. Securities and Exchange Commission (SEC). This notification، known as a Wells Notice، indicates that the U.S. financial regulator may pursue legal action against Turlov.

Investigation Details Emerge

The notice was officially received by Turlov on March 11، according to the company's annual financial report. The SEC has been scrutinizing the company، its executives، and board members since 2021. The investigation primarily focuses on the company's dealings with institutional clients، its market-making activities، and internal accounting procedures.

Company's Stance and Next Steps

Both Freedom Holding and Timur Turlov have stated they intend to contest the SEC's preliminary findings. While a representative for Freedom Holding declined to provide further comment on the matter، the SEC has not yet issued an official response. It is important to note that a Wells Notice is not an official accusation of wrongdoing، nor does it confirm that a violation has occurred.

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