Sahibinden.com Decision Is Cancelled by Administrative Court
Judicial Review Informs the Turkish Competition Authority about the Appropriate Standards of Proof in Excessive Pricing Cases: Sahibinden.com Decision Is Cancelled by Administrative Court
Access to Wikipedia Reinstated in Turkey
ELIG Gürkaynak Attorneys-at-Law, acting as outside counsel for Wikimedia Foundation, Inc. ("Wikimedia"), has secured an affirmative decision from the Turkish Constitutional Court in the matter of an universal access ban on the Wikipedia website (www.wikipedia.org) in Turkey.
Amendments to the Regulation on Loan Transactions in Turkey
In Turkey, wide-ranging procedures and principles apply to loans provided by banks which are regulated under the Regulation on Loan Transactions of Banks. Banking sector may rapidly be affected by economic circumstances.
Turkish Constitutional Court’s Latest Decisions on Freedom of Expression in Social Media
Turkish Constitutional Court recently granted two remarkable decisions on November 19, 2019 and on November 28, 2019 regarding individual applications claiming violation of the applicants’ freedom of expression. The decisions have been published in the Official Gazette respectively on December 24, 2019 and on January 3, 2020. In both decisions, the Constitutional Court accepted the …
Turkey Introduces a Centralized System for Electronic Marketing Communications
Recent amendments to the Turkish legislation regarding electronic marketing communications introduced a centralized management system for obtaining, exercising and tracking the opt-in/opt-out requests as well as complaints of the recipients of electronic commercial communications. Service providers sending electronic commercial communications to customers will need to register with this new centralized management system, and notify and/or …
Continue reading “Turkey Introduces a Centralized System for Electronic Marketing Communications”
Dismissal of Board Members in Turkey
Dismissal of the board members of a joint stock company is regulated under the Turkish Commercial Code numbered 6102. According to Article 408/2 of the TCC, general assembly of shareholders is granted with the sole power to appoint and dismiss board members.
Legislative Proposal to Amend Law No. 6493 on Payment Services and Electronic Money
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.
Data Breach Notification Obligation In Light of Turkish Data Protection Authority’s Recent Decision
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.
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 …
Continue reading “Turkey: Special Purpose Acquisition Companies”
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.