Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 15 OCTOBER 2007

Securities Update In Turkey

Hergüner Bilgen Üçer Attorney Partnership
Hergüner Bilgen Üçer Attorney Partnership
Contributor
Hergüner Bilgen Üçer Attorney Partnership

Hergüner Bilgen Üçer Attorney Partnership

Since 1989, Hergüner Bilgen Üçer has been recrafting the Turkish law firm model along modern...

View firm profile
Explore more from Hergüner Bilgen Üçer Attorney Partnership

A few years ago, the Turkish Capital Markets Board (the “CMB”), the independent governmental authority regulating and monitoring the capital market activities in Turkey, prepared a bill amending the existing Law on Capital Markets No. 2499.

TurkeyFinance and Banking
Hergüner Bilgen Üçer
Hergüner Bilgen Üçer
Author LinkedIn connections

(Only major changes amendments and enactments are taken into account.)

A few years ago, the Turkish Capital Markets Board (the “CMB”), the independent governmental authority regulating and monitoring the capital market activities in Turkey, prepared a bill amending the existing Law on Capital Markets No. 24991 (the “Capital Markets Law”), (the “Draft Law”)2 to revamp the current one with a view to bring it in line with the relevant European Union (the “EU”) legislation. Capital Markets Law is the main piece of legislation governing capital markets in Turkey.

Nevertheless, the Draft Law has not yet been submitted to the Prime Ministry for its enactment and it seems that some additional time is needed, also taking into account the elections in July 2007, and amendment plans of the Turkish Commercial Code, which is closely related to the content of the Draft Law.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Implementation Procedures For Investment Funds Ordered Into Liquidation

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.
TurkeyFinance and Banking
Gen Temizer Erdogan Girgin Attorney Partnership
Gen Temizer Erdogan Girgin Attorney Partnership
Article

Sweeping Changes Announced For Turkish Portfolio Management Companies

The Capital Markets Board of Türkiye has introduced comprehensive regulatory reforms affecting hedge funds and portfolio management companies, implementing new investment diversification requirements, graduated ownership caps based on free-float ratios, enhanced capital adequacy standards, and stricter personnel qualifications. These changes, effective from August 2026, establish tiered compliance deadlines and fundamentally reshape the operational framework for Turkish portfolio managers.
TurkeyFinance and Banking
KST LAW
KST LAW
Article

Developments Concerning Liquidity Measures In The Capital Markets And The Fund Liquidation Process

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.
TurkeyFinance and Banking
Gen Temizer Erdogan Girgin Attorney Partnership
Gen Temizer Erdogan Girgin Attorney Partnership
Article

Turkish Capital Markets Board Introduces Measures On Investment Funds

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.
TurkeyFinance and Banking
Gen Temizer Erdogan Girgin Attorney Partnership
Gen Temizer Erdogan Girgin Attorney Partnership
Article

Significant Amendments Introduced To The Planned Areas Zoning Regulation

The Regulation Amending the Zoning Regulation for Planned Areas (“Regulation”), published in the Official Gazette dated 1 July 2026 and numbered 33297, introduces several amendments to the Zoning Regulation for Planned Areas. The amendments include significant changes concerning construction license procedures, construction co-efficiency calculations, elevator requirements, modification works in existing buildings and the conversion of certain office buildings into residential use.
TurkeyReal Estate and Construction
Hergüner Bilgen Üçer Attorney Partnership
Hergüner Bilgen Üçer Attorney Partnership
Article

Competition & Trade Quarterly Bulletin - 2026 - Second Quarter

This issue of the Competition & Trade Quarterly brings together the two parts of the bulletin. The competition section reviews eleven Turkish Competition Board decisions and announcements published during the second quarter of 2026 — merger control and joint-control assessments, conditional clearances secured through commitments, interim measures in the food sector, information exchange in labour markets, digital-platform commitments, and the criminal dimension of an ongoing cartel file.
TurkeyAntitrust/Competition Law
Hergüner Bilgen Üçer Attorney Partnership
Hergüner Bilgen Üçer Attorney Partnership
Article

Aircraft Financial Leasing Expected To Boom

With the number of increasing tourists expected to visit Turkey in the near future, the increasing number of airlines offering domestic scheduled flights, and the effects of a growing Turkish economy resulting in an increasing demand for air cargo transportation, the need for aircrafts in Turkey is on the rise. Currently, there are 17 licensed airlines with a total number of 212 aircraft (17 of which are for cargo transportation) and 49 licensed air taxi operators registered in Turkey. For airli
TurkeyTransport
Hergüner Bilgen Üçer Attorney Partnership
Hergüner Bilgen Üçer Attorney Partnership