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Legal Updates in Turkish Capital Markets Sector Q2/2012

July 2012 - Finance. Legal Developments by Pekin & Pekin.

More articles by this firm.

Focus items for this edition are: New Regulation on Stock Exchanges, Amendment to Repo Communiqué, Dematerialization of Government Debt Securities.

New Regulation on Stock Exchanges

On April 26, 2012, a new regulation on stock exchanges was published in the Official Gazette. According to the announcement made by the Capital Market Board (“CMB”), the new regulation seeks to establish the better organisation and management structure of stock exchanges, also enabling Turkish exchanges to compete on an international level.

Amendment to Repo Communiqué

The Communiqué on Repo transactions (Serial: V, No: 131) was amended by the CMB on May 12, 2012. Further to the CMB’s announcement, shares being traded on the stock exchange, Eurobonds issued by the Undersecretariat of the Treasury and lease certificates are to be subject to repo transactions.

Dematerialization of Government Debt Securities

As per the CMB resolution dated August 25, 2011 and numbered 832, as of June 30, 2012 domestic government debt securities are now in dematerialized form.

About Pekin & Pekin

Pekin & Pekin is a full-service Turkish law firm based in Istanbul. The Firm advises on cross-border transactions in Turkey and the region, and over the 40 years since establishment has gained broad experience in both international and Turkish law. A member of Lex Mundi, TerraLex and SEE Legal, and advisor to ISDA and ICMA, the Firm is committed to excellence and has a culture of participation and success, driving all to exceed client objectives.

For more information contact:

Charlotte McCrudden

Business Development

charlotte@pekin-pekin.com

T: +90 212 313 3503

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