The changes to the Capital Markets Law No. 6362 were published
in the Official Gazette dated December 5, 2017 and the Capital
Market Board is authorized to form the secondary regulations and
further amendments.
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Public attention focuses on crowd funding for a while. In
"Code on the Amendment of Certain Tax Laws, Law and the Decree
Laws (" Code "), which entered into force with Official
Gazette dated December 5, 2017-numbered 30261, also crowd funding
takes a place. In fact, money collection by calling from all kinds
of ways to the public with the aim of the incorporation or increase
of the capital of a company or giving such promises to the public
is prohibited in accordance with Article 552 of the Turkish
Commercial Code ("TCC") and according to Article 562 of
TCC this action requires to be punished with imprisonment from six
months to two years.
