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Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Legal Developments Worldwide

Articles contributed by Pekin & Bayar Law Firm

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LATEST AMENDMENTS IN THE TURKISH CAPITAL MARKETS BOARD LEGISLATION

November 2011 - Corporate & Commercial. Legal Developments by Pekin & Bayar Law Firm.

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The capital markets legislation in Turkey has seen important changes in the second half of this year. While some of those changes have been initiated by the Turkish Parliament as part of the lawmaking process, the Turkish Capital Markets Board (the “CMB”), the regulatory authority of the capital markets in Turkey, has been the source of other amendments and changes. This article summarizes the new landscape and discusses the impact of the referred new amendments.

A NEW REGULATION IN TURKEY: ADVERTISING ACTIVITIES FOR MEDICINAL PRODUCTS

November 2011 - TMT ( Technology, Media & Telecoms). Legal Developments by Pekin & Bayar Law Firm.

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The long awaited Regulation on Advertising Activities for Medicinal Products, published in the Official Gazette No: 28037 dated 26.08.2011 (the “New Regulation”), has replaced the former Regulation of 23.10.2003 (the “Regulation”). The rationale behind this change was a Council of State decision issued on 14.12.2005 and which annulled most of the provisions in the Regulation concerning the advertisement of pharmaceuticals to the public.

LAW ON THE ESTABLISHMENT AND BROADCASTING SERVICES OF RADIO AND TELEVISION ENTERPRISES IN TURKEY

May 2011 - TMT ( Technology, Media & Telecoms). Legal Developments by Pekin & Bayar Law Firm.

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NEW LAW ON THE ESTABLISHMENT AND BROADCASTING SERVICES OF RADIO AND TELEVISION ENTERPRISES BRINGS SIGNIFICANT CHANGES INTO TURKISH MEDIA SECTOR

Introduction
The Law on the Establishment and Broadcasting Services of Radio and Television Enterprises was published in the Official Gazette on 03.03.2011 (the “RTUK Law”) and replaced its previous version dated 13.04.1994 (the “Old Law”). This article aims to provide a brief overview of the main changes introduced by the RTUK Law. With the entry into force of this new legislation, the Turkish media sector is expected to become an even more accessible and attractive target area for foreign and domestic investors.

THE NEW MINING REGULATION INTRODUCES IMPORTANT CHANGES

January 2011 - Projects, Energy & Natural Resources. Legal Developments by Pekin & Bayar Law Firm.

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It has now become eminent that Turkish law-makers are trying to attract foreign and domestic investment by creating more flexible and efficient legal tools, especially for attractive markets such as mining, while creating more competitive yet fair entry-to-market conditions.

DE-LISTING OF TURKISH PUBLIC COMPANIES

October 2010 - EU & Competition. Legal Developments by Pekin & Bayar Law Firm.

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Although there have been solid written rules as to how a company could be listed on the Istanbul Stock Exchange (the “ISE”), the Capital Markets Board (the “CMB”) had not provided for any rules on de-listing of companies quoted and being traded on the ISE until very recently.

PUBLIC CALL REQUIREMENTS UNDER THE CAPITAL MARKET LEGISLATION

September 2009 - Corporate & Commercial. Legal Developments by Pekin & Bayar Law Firm.

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The Capital Market Board of Turkey (hereinafter referred to as the "CMB") has issued a new CommuniquĂ©.  The terms and provisions of the new CommuniquĂ©  No: 44, Serial No: IV that has been published in the Official Gazette No: 27337 dated September 2, 2009 (hereinafter referred to as "the CommuniquĂ©"), govern and regulate the terms for the acquisition of the shares of a publicly held company by making a call to the shareholders (either voluntary or mandatory) and in case of a mandatory call, the conditions for the obligation for the person(s) acquiring shares exceeding certain ratios, to make a call to the other shareholders to purchase the remaining shares.

The CommuniquĂ© defines the concept of "call" as a proposal, either mandatory or voluntary, made to the shareholders of a publicly held company to acquire their respective shares in the company.  Therefore, public calls are analyzed under two categories: (i) Mandatory and (ii) voluntary.

 

 

WARRANTS

May 2009 - Finance. Legal Developments by Pekin & Bayar Law Firm.

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The Capital Markets Board of Turkey (the “CMB”) published a new communiqué regulating the principles regarding purchase and sale of warrants and the registration of the same with the CMB. By means of the said Communiqué, the CMB aims at introducing a new capital market instrument allowing trade of warrants in regulated exchanges. The CMB also aims at sustaining a more liquid and active market.

Public Disclosures

March 2009 - Corporate & Commercial. Legal Developments by Pekin & Bayar Law Firm.

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The Capital Markets Board of Turkey (the “CMB”) repealed its communiqué relating to public disclosure of certain events relating to publicly traded companies and replaced it with two new communiqués.