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Turkey > Legal Developments > Law firm and leading lawyer rankings

Editorial

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

 

Data Breach Notification Obligation In Light of Turkish Data Protection Authority’s Recent Decisio

There is no specific definition of "data breach" under the Turkish data protection law ("Turkish DP Law"). However in terms of notification obligations, "illegal seizure of or access to personal data" is considered as a data breach.

Close Relationship Between Qatar And Turkey Is Set to Open Doors to New FDI Opportunities

Two of the growing economies in the world; Turkey and Qatar share deep historic and cultural connections. Especially in the recent years, the two nations’ agreements covering trade, defense and economic co-operation have built on their already close relations. Moreover since the Trade Ministry of Turkey points out the total amount of investments for 200 different projects planned in Qatar to be $200 billion, the close relationship between Qatar and Turkey is set to improve for the years to come.

Turkey presents a stable economic Foreign Direct Investment (“FDI”) opportunity for the Qatar’s economy due to Turkey being in the customs union with the EU, the opportunity to acquire Turkish citizenship and the incentives that the Turkish Government offers to FDIs.

Recent issues in the Gulf Region aid to open new doors for Qatari investors looking to extend their trade beyond Qatar and in these times. In light of these developments Turkey is set to become a stable trade partner with a strong economic structure and a welcoming legal framework towards FDIs.

Legislative Proposal to Amend Law No. 6493 on Payment Services and Electronic Money

October 2019 - Finance. Legal Developments by ELIG Gurkaynak Attorneys-at-Law.

More articles by this firm.

The Legislative Proposal on Amending the Law No. 6493 on Payment and Security Systems, Payment Services and Electronic Money Institutions (“Proposal”), has recently been submitted before the Grand National Assembly of Turkey.

Turkey: Special Purpose Acquisition Companies

Special Purpose Acquisition Companies ("SPAC"), which are incorporated to achieve the purpose of investing and merging with a non-public company, were first introduced in the United States in 1990s and recently increased its popularity globally. Unlike other countries, SPACs entered into Turkish legal system relatively late with the Communiqué on Common Principles Regarding Significant Transactions and Appraisal Right (Communiqué No. II-23.1) of the Capital Markets Board ("CMB"), published in the Official Gazette dated 24.12.2013 numbered 28861("Appraisal Right Communiqué"). Currently, there is no SPAC listed under Borsa Istanbul ("BIST") in Turkey. SPACs are very similar to venture capital structure and can be considered as a strong alternative for investors and shareholders in Turkey as well.

Communiqué on Equity Crowdfunding Is Officially Published

By way of background, in January 2019, the Capital Markets Board (“CMB”) had issued an announcement on its website on the Draft Communiqué on Equity Crowdfunding[1]. The CMB has now officially published the Communiqué on Crowdfunding No. III-35/A (“Communiqué”), on October 3, 2019. The Communiqué entered into force as of October 3, 2019.

Quarterly Update on Trade Defense Cases inTurkey (September 2019)

The authority to initiate dumping or subsidy examinations, upon complaint or, where necessary, ex officio, has been given from the Ministry of Economy to the Ministry of Trade (“Ministry”). Within the scope of this authority, the Ministry announces its decisions with the communiqués published on the Official Gazette.

Turkey signs the Singapore Convention: A New Era in Enforceability of Mediation Agreements

Turkey signs the Singapore Convention: A New Era in Enforceability of Mediation Agreements in Foreign Countries

The mediation procedures have become a mandatory stage of commercial litigations in Turkish Law as of January 01, 2019. After only 4 months of practice, it appears that the success rate of mandatory mediation procedures is %65, according to the data published by the Mediation General Office of Justice Ministry of Turkey. As the national mediation procedure seems to be useful thus far, Turkey took a new step and signed the United Nations Convention on International Settlement Agreements Resulting from Mediation be known as the "Singapore Convention on Mediation" ("Convention"), which provides enforceability to international mediation agreements, on August 07, 2019 in Singapore.

Constitutional Court’s Decision on Access Ban to News Content on Social Media

Turkish Constitutional Court granted a decision on April 17, 2019 regarding an applicant's claims on violation of his freedom of expression and press due to access ban of a news article (which is taken from a newspaper) posted by his social media account with the comment "Interesting confession from the judge of the July 22th investigation". The decision was published on the Official Gazette on May 15, 2019. The Constitutional Court accepted the applicant's claim by stating that the access ban of the news article violated the applicant's right to freedom of expression and press.

Regulation on Radio, Television and On-Demand Broadcasts on the Internet

Regulation on Provision of Radio, Television and On-Demand Broadcasts on Internet Medium has been published on the Official Gazette of August 1, 2019.  The main aim of the Regulation is to regulate the internet broadcasts.

Quarterly Update on Trade Defense Cases in Turkey (June 2019)

The authority to initiate dumping or subsidy examinations, upon complaint or, where necessary, ex officio, has been given from the Ministry of Economy to the Ministry of Trade ("Ministry"). Within the scope of this authority, the Ministry announces its decisions with the communiqués published on the Official Gazette.