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ARTICLE · 16 MARCH 2016

Turkey Doubles Capital Requirements For Asset Management Companies, Plus Other Establishment And Operation Changes

Moroglu Arseven
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Turkey's Banking Regulation and Supervision Agency ("Agency") has amended regulations governing asset management companies.

TurkeyFinance and Banking
Dr. E. Seyfi Moroğlu, LL.M.
Dr. E. Seyfi Moroğlu, LL.M.
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Turkey's Banking Regulation and Supervision Agency ("Agency") has amended regulations governing asset management companies. Changes effect establishment principles, fields of activity, operating licences, amending articles of association, share transfers, corporate management and information system. The Regulation Amending the Regulation on Principles Regarding Establishment and Activities of Asset Management Companies ("Amendment Regulation") was published in Official Gazette number 29644 on 5 March 2016, entering into effect on the same date.

Significant amendments made by the Amendment Regulation include:

  • A minimum amount of paid-up capital is required during establishment of asset management companies. The amount increases from TRY 10,000,000 to TRY 20,000,000. Asset management companies must comply with this requirement by 31 December 2017.

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