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ARTICLE · 08 AUGUST 2016

Recent Amendments In Legislation On Asset Management Companies

Pekin Bayar Mizrahi (in alliance with Norton Rose Fulbright)
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The asset management companies shall have a minimum of twenty million Turkish Liras of paid-up capital.

TurkeyFinance and Banking
Murat Soylu
Murat Soylu
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Summary

The Banking Regulation and Supervision Agency ("BRSA") introduced new principles applicable to the asset management companies with the new regulation published in the Official Gazette dated 5 March 2016 and No. 29644 amending the Regulationon Principles of Incorporation and Activities of Asset Management Companies published in the Official Gazette dated 1 November 2006 and No. 26333.

Changes

  • The definition of "Other Financial Institutions" has been expanded to cover the asset management companies as well. With this expansion, the asset management companies will be entitled to provide consultancy and intermediary services for the restructuring of the receivables and other assets of the other asset management companies.

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