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ARTICLE · 08 AUGUST 2016

Recent Amendments On Investment Services And Activities

Pekin Bayar Mizrahi (in alliance with Norton Rose Fulbright)
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The risk of the transactions should be taken into consideration for the determination of the amount of initial collateral.

TurkeyFinance and Banking
Murat Soylu
Murat Soylu
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Summary

The Capital Markets Board ("CMB") introduced new rules and obligations with the new communiqués amending Communiquéon Principles Regarding Investment Services Activities and Ancillary Services No. III-37.1 and Communiqué on Principles of Establishment and Operation of the Investment Firms No. III-39.1 for the investment companies and investors regarding derivatives and leveraged transactions and also introduced new incentives to encourage investment banks to acquire brokerage firms in order to expand their scope of activities to act as intermediaries in trading of shares listed on Borsa Istanbul.

Changes

Before the publication of these communiqués ("new Communiqués") amending Communiquéon Principles Regarding Investment Services, Activities and Ancillary Services No. III-37.1 andCommuniqué on Principles of Establishment and Operation of the Investment Firms No. III-39.1, the development and investment banks were not permitted to act as intermediaries

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