Turkey's Capital Markets Board dismissed three deputy chairmen and 11 other senior members on Friday in a move that one source linked to purges in other state institutions since the emergence of a high-level corruption scandal.
The board, which regulates and supervises securities markets in Turkey, said in a statement it had made the changes in line with "necessities within management".
A source familiar with the matter said the reshuffle was part of a government backlash to a graft investigation involving former cabinet ministers which surfaced on Dec. 17.
Prime Minister Tayyip Erdogan has denounced the graft probe as a plot against his rule orchestrated by his former ally Fethullah Gulen, a US-based Muslim cleric who has many supporters among Turkey's police and judiciary.
Thousands of police officers and members of the judiciary have been reassigned in recent months, while members of the banking regulator have been removed from office.