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ARTICLE · 16 OCTOBER 2018

Turkey Introduces Rules For Trade Repositories, Including Operation, Practices And Audit Principles

Moroglu Arseven
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The Regulation on Trade Repositories' Operation, Practice and Audit Principles was published in Official Gazette number 30540 on 19 September 2018.

TurkeyFinance and Banking
Dr. E. Seyfi Moroğlu, LL.M.
Dr. E. Seyfi Moroğlu, LL.M.
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Turkey's Capital Markets Board ("Board") has announced new rules for Trade Repositories, including new obligations, activity principles, as well as new rules for membership, operation and audit.

The Regulation on Trade Repositories' Operation, Practice and Audit Principles ("Regulation") was published in Official Gazette number 30540 on 19 September 2018.

Notable rules introduced under the new regime include:

  • To obtain an establishment licence, Trade Repositories must:
    • Be incorporated as a joint-stock company.
    • Have share certificates registered and issued in exchange of cash.
    • Have fully paid capital worth at least the amount decided by the Board.
    • Possess the qualities set forth under Article 44 of the Capital Markets Law numbered 6362 ("CML").

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