Two-Minute Recap – IT Law Matters – Around The Globe – 2026 May

The Board’s first decision clarifies which sectors will be treated as critical infrastructure under Cybersecurity Law No. 7545 in Türkiye.

Generative artificial intelligence (“AI”) tools have become part of day-to-day legal practice in many jurisdictions. From summarising contracts and lengthy decisions to preparing first drafts of correspondence and supporting legal research, these tools now assist lawyers at many stages of their work. As their use becomes more widespread, the focus is increasingly shifting from whether AI should have a place in legal practice to the conditions under which it can be used consistently with lawyers’ professional obligations.

The Presidential Circular dated 17.08.2026 and numbered 2026/9 (the “Circular”), published in the Official Gazette dated 18.08.2026 and numbered 33344, has put into effect the Türkiye Artificial Intelligence Action Plan (2026–2030) (the “Action Plan”), which sets out Türkiye’s roadmap for artificial intelligence policies for the 2026–2030 period. The Action Plan has also been published on the official website of the Ministry of Industry and Technology.

The Regulation Amending the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers, published in the Official Gazette dated 04.09.2026 and numbered 33360, introduced an amendment concerning the identity verification methods that payment service providers may use in remote customer onboarding.

Presidential Circular No. 2026/9, dated 17 August 2026, was published in the Official Gazette on 18 August 2026. The Circular requires public institutions and organisations to carry out the necessary work and provide the support needed to implement the Türkiye Artificial Intelligence Action Plan (the “Plan”), which sets out Türkiye’s artificial intelligence roadmap for the 2026–2030 period.

Sanayi ve Teknoloji Bakanlığı (“Bakanlık”) tarafından 18 Ağustos 2026 tarihinde yayımlanan 2026–2030 Türkiye Yapay Zekâ Eylem Planı (“Eylem Planı”), Türkiye'nin yapay zekâ ekosistemini kapsayıcı bir hukuki, teknik ve ekonomik çerçevede yapılandırmayı hedefleyen 16 öncelikli eylemi ortaya koymaktadır. “Fark Et”, “İstifade Et”, “Üret” ve “Yönet” şeklinde dört temel eksen üzerine inşa edilen Eylem Planı; insan odaklılık, etik sorumluluk, güvenilirlik, sürdürülebilir kalkınma ve dijital egemenlik ilkelerini benimsemektedir.

The European Union Artificial Intelligence Act ("AI Act") was published in the Official Journal of the European Union ("EU") on July 12, 2024...

We are living in an era in which digitalization is accelerating and Artificial Intelligence ("AI") technologies are reshaping both societal and professional practices.

Published on 18 August 2026 by the Ministry of Industry and Technology (“Ministry”), the 2026–2030 AI Action Plan of Türkiye (“Action Plan”) sets out 16 priority actions aimed at structuring Türkiye's artificial intelligence ecosystem within a comprehensive legal, technical, and economic framework.

The 2030 National Smart Cities Strategy and Action Plan (“Action Plan”) was put into effect by Presidential Circular No. 2026/11 dated 18.09.2026 (“Circular”), published in the Official Gazette dated 19.09.2026 and numbered 33375.

SPK, halka açık olmayan ortaklıkların halka arz başvurularını ilan edilen sıradan bağımsız olarak önceliklendirmek üzere üç alternatif kriter belirledi

With its decision No. 57/1708 dated 17.09.2026, the Capital Markets Board (the “CMB”) set out the liquidation procedures for the 131 investment funds established by Tera, A1 Capital, Atlas, Bulls, Hedef, Pardus and Pusula Portföy Yönetimi, whose liquidation had been ordered under its previous decision, and updated the relevant list of funds in the same decision.

Borsa Istanbul’s BIST 100 index came under significant selling pressure over three consecutive trading sessions between 15-17 September 2026. The index closed down 5.54% on 16 September, a move that triggered Borsa Istanbul’s index-linked circuit breaker, and negative momentum continued into the morning of 17 September. The sell-off was primarily triggered by a default at Pusula Portföy Yönetimi A.Ş., a portfolio management company, which failed to meet investor redemption requests from certain funds it manages in a timely manner. A similar liquidity problem emerged at Tera Portföy Yönetimi A.Ş., and this situation put pronounced pressure on the shares of both companies as well as on broader market indices.

On 16 September 2026, the money market funds founded by Pusula Portföy Yönetimi A.Ş. defaulted after failing to meet the cash redemption requests received from investors, triggering a sharp sell off on Borsa Istanbul. The BIST 100 index lost 5.54% that same day and hit a circuit breaker; the selling soon spread to Tera Portföy funds as well. It became apparent that the problem was not confined to those two firms but also extended to Hedef, Atlas, A1 Capital, Pardus and Bulls Portföy.

The Capital Markets Board of Türkiye (“CMB” or the “Board”), through its principle decision No. i-SPK.15.2 (dated 03.09.2026 and numbered 54/1614) (“Resolution”), has lowered to 3% the minimum shareholding disclosure threshold under the Material Events Disclosure Commu-niqué No. II-15.1 (“Communiqué”). The Reso-lution will apply as from the end of the day on 11.09.2026.

Sermaye Piyasası Kurulu (“Kurul”) 17.09.2026 tarihli ve 57/1708 sayılı kararı ile, bir önceki kararında tasfiyesine karar verilen ve Tera, A1 Capital, Atlas, Bulls, Hedef, Pardus ve Pusula Portföy Yönetimi tarafından kurulmuş toplam 131 yatırım fonunun tasfiye usul ve esasları belirlenmiş, ilgili fon listesi de aynı kararla güncellenmiştir.

Presidential Circular No. 2026/9, dated 17 August 2026, was published in the Official Gazette on 18 August 2026. The Circular requires public institutions and organisations to carry out the necessary work and provide the support needed to implement the Türkiye Artificial Intelligence Action Plan (the “Plan”), which sets out Türkiye’s artificial intelligence roadmap for the 2026–2030 period.

16.09.2026 tarihinde, Pusula Portföy Yönetimi A.Ş.’nin kurucusu olduğu para piyasası fonlarının yatırımcılardan gelen nakit iade taleplerini karşılayamayarak temerrüde düşmesi, Borsa İstanbul’da sert bir satış dalgasını tetiklemiştir. BIST 100 endeksi aynı gün %5,54 değer kaybederek devre kesici uygulamasına konu olmuş, satış dalgası kısa sürede Tera Portföy fonlarında da görülmüş; sorunun yalnızca iki kurumla sınırlı kalmayıp Hedef, Atlas, A1 Capital, Pardus ve Bulls Portföy’ü de kapsadığı anlaşılmıştır.

Türkiye Emisyon Ticaret Sistemi Yönetmeliği (“Yönetmelik”), 27 Ağustos 2026 tarihli ve 33353 sayılı Resmî Gazete’de yayımlanarak aynı tarihte yürürlüğe girmiştir. Yönetmelik ile 7552 sayılı İklim Kanunu (“İklim Kanunu”) uyarınca Türkiye Emisyon Ticaret Sistemi’nin (“ETS”) kapsamı sera gazı emisyon izni, izleme, raporlama ve doğrulama, tahsisatlandırma ve piyasa işleyişine ilişkin temel kuralları düzenlemektedir.

The Türkiye Emissions Trading System Regulation (the “Regulation”) was published in the Official Gazette No. 33353 dated August 27, 2026, and entered into force on the same date. Pursuant to the Climate Law No. 7552 (the “Climate Law”), the Regulation sets out the fundamental rules governing the scope of the Türkiye Emissions Trading System (“ETS”), greenhouse gas emissions permits, monitoring, reporting and verification, the allocation of allowances, and the operation of the market.