The Legal 500

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.

Focus items for this edition are: Turkey 2011 Progress Report and the Communiqué on the Increase of the Lower Limit for Administrative Fines

Focus item for this edition is: Communiqué regarding the Determination of the Production Year of Motor Vehicles and Trailers

Focus items for this edition are: Turkey 2011 Progress Report and the Communiqué on the Increase of the Lower Limit for Administrative Fines

Focus items for this edition are: Turkey 2011 Progress Report and the Communiqué on the Increase of the Lower Limit for Administrative Fines

Focus items for this edition are: Sea Planes, Airplane Passenger Rights and the Transfer of Operating Rights Obligation

Focus items for this edition are: Declaration of Assets & Imprisonment

Focus items for this edition are: Environmental Regulations: Licenses and Permissions, Appointment of Certified Energy Directors and Amendments to Electricity Market Regulations

Focus item for this edition is: Publishing of Tax Rulings on Turkish IRS Website

Voting rights in joint stock companies are of significant importance, since they enable shareholders to participate in the management of the company. Shareholders may have a voice in the activities of the company through the exercise of their voting rights, such as appointment of members to corporate boards, supervision of the said members and exercise of minority rights. Privileges such as right of access to information, convocation of the general assembly and right to demand the annulment of the decisions aim to guarantee that the voting right is exercised more efficiently.

Minority shareholders rights are of significant importance in companies’ constitution, since they provide protection for the value of minority shareholding and the management of company can be apportioned between the majority and minority shareholders by preventing inappropriate exertion of control by majority shareholders.