“Intermediary Service Provider” and “Platform” Pursuant to the Regulation on Distance Contracts
With the “Regulation Amending the Regulation on Distance Contracts” (“Regulation”), which came into force after being published in the Official Gazette dated 23.08.2022 and numbered 31932, the definitions of “intermediary service provider” and “platform” were made and these concepts were placed on a legal basis.
Amendments to the Consumer Protection Legislation Entered into Force
All provisions of the Law on the Amendment of the Law on the Protection of Consumers and the Condominium Law (“Law”), that was published in the Official Gazette dated 01.04.2022 and numbered 31796, entered into force on 01.10.2022.
Significant Amendments to the Regulation on Housing Finance Contracts
Regulation on Amendment to the Regulation on Housing Finance Contracts was published in the Official Gazette on 23.09.2022.
Significant Amendments to the Regulation on Consumer Credit Contracts
The Regulation on Amendment to the Regulation on Consumer Credit Contracts was published in the official gazette on 23.09.2022.
New Obligations and Sanctions for Social Network Providers Active in Turkey
The new regulation published in the Turkish Official Gazette on 18.10.2022 has introduced significant new obligations to the Social Network Providers. In case of violation of the new obligations on the Social Network Providers, they may face certain sanctions such as administrative fine, reducing the internet traffic bandwidth and ban on advertising up to 6 …
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New Criteria for Identifying the Companies Subject to Independent Audit
New criteria for the companies to be subject to independent audit within the scope of the “Decision on the Identification of Companies Subject to Independent Audit” (Decision) has just been published in the Official Gazette on 30.11.2022. The amendments will enter into force on 1.1.2023. You may reach the Decision (in Turkish) via the link.
Administrative Fines to be Imposed in 2023 within the Scope of Personal Data Protection Law (KVKK) have been Published!
Administrative fines regulated in Article 18 of the Personal Data Protection Law (“KVKK”) have been recalculated by the revaluation rate this year as every year. The determined amounts are included in the announcement published by the Personal Data Protection Authority on 17.01.2023.
FSC Plans to Introduce a Mandatory Bid Rule for Change in Management via Stock Transfer
The Financial Services Commission (the “FSC”) recently announced its plan to introduce a mandatory bid rule, which would grant the minority shareholders of listed companies an opportunity to sell their shares when a change of control takes place through transfer of stocks.
KFTC Announces Enforcement Plan for 2023
On January 26, 2023, the Korea Fair Trade Commission (the “KFTC”) announced its 2023 Enforcement Plan (the “2023 Plan”).
Key Details and Implications of the Serious Accident Reduction Roadmap
On November 30, 2022, the Ministry of Employment and Labor (the “MOEL”) announced the Serious Accident Reduction Roadmap (the “Roadmap”).