128 results found

The Capital Markets Board of Turkey (the "CMB") has amended the legislation on portfolio management business in an attempt to diversify the business line of PMCs, create an alternative distribution and marketing channel for the founders of investment funds (i.e. banks, brokerage firms and insurance companies) and increase the competition in the investment fund market.

The Central Bank of the Republic of Türkiye (the "CBRT") made important amendments to Article 13 of the Capital Movements Circular (the "Circular")...

Drafting and enactment of a new Capital Market Law which would address the needs of Turkish Capital Markets and which would be in compliance with EU Directives has long been in the agenda of the capital market governors.

Asset Backed Securities (“ASB”s) were a popular class of instruments in the Turkish economy between 1992 and 1997, but have been rarely used by non-bank private sector issuers in the domestic market since 1998. These may regain their popularity in the near future as the economic activity increases and assets gain value. According to the applicable legislation, issuance and offering must be carried out by an intermediary institution and under a bank guarantee. Receivables against which ASBs may b

The Amendments to the Covered Bonds Communiqué No. III-59.1 ("Communiqué") entered into force through their publication in the Official Gazette dated May 14, 2020 and No. 31127.

Turkey's Central Bank has updated the default interest ratio to 11.5% for late payments made to creditors in the context of commercial transactions for goods and services.

In a Council of Ministers decision published June 24, Turkey raised the upper limit on the amount of guarantees which Kredi Garanti Fonu A.Ş. (the "Credit Guarantee Fund" or "KGF") can grant to support certain types of loans under the Council of Ministers' earlier Decision on the Procedures and Principles for Treasury Support Provided to Credit Guarantee Institutions.

CMB has announced new trading principles for thin stocks through its resolution dated 23.07.2010 and numbered 21/657.

Turkey's Union of Notaries has announced details of stamp tax and fee exemptions for warning notifications and certain agreements, involving cheques, regarding repayment of overdue loan debts.

From 1 January 2017, banks in Turkey are not required to obtain statements of accounts for loans up to one million Turkish Lira.

With the Presidential Decision numbered 5752 published under the Official Gazette dated June 28, 2022 and numbered 31880 ("Decision"), the period of the withholding deduction applied...

With the Presidential Decision numbered 5752 published under the Official Gazette dated June 28, 2022 and numbered 31880...

Capital Markets Board of Turkey (the "CMB";) has revised the legislation on related party transactions and internal organization of listed companies with a view to relax and abolish certain requirements as well as to boast investor protection.

Banking Regulation and Supervisory Agency of Turkey (the "BRSA" or the "Banking Authority") has finally cleared the way for the public offering and private placement of Turkish Lira denominated bonds and bills by deposit banks through its resolution dated 30.09.2010 and numbered 3875 (the "Resolution").

The issuance ceiling limit in the Debt Securities Communiqué will not be applicable to the debt securities issued by MFIs.

The Turkish Court of Appeals has taken a hard line against standard terms and conditions presented as part of a "take-it-or-leave-it" contract.

The Constitutional Court's decision No. 2018/25663 regarding violation of the right to property was published in the Official Gazette on 20 December 2021.