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ARTICLE · 11 JANUARY 2022

Unauthorized Capital Market Activities

ELIG Gürkaynak Attorneys-at-Law
ELIG Gürkaynak Attorneys-at-Law
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ELIG Gürkaynak Attorneys-at-Law

ELIG Gürkaynak Attorneys-at-Law

ELIG Gürkaynak Attorneys-at-Law is an eminent, independent Turkish law firm based in Istanbul. The...

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Capital market activities as defined under Article 34 of the Capital Markets Law No. 6362 are activities of capital market institutions falling within the scope of CML, investment services...

TurkeyFinance and Banking
Gönenç Gürkaynak
Gönenç Gürkaynak
Nazlı Nil Yukaruç
Nazlı Nil Yukaruç
Selen Ermanlı Sakar
Selen Ermanlı Sakar
Irmak Yetim
Irmak Yetim
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I. Introduction

Capital market activities as defined under Article 34 of the Capital Markets Law No. 6362 (the "CML") are activities of capital market institutions falling within the scope of CML, investment services and activities and other ancillary services falling within the scope of the CML. In order to carry out capital market activities, permission of the Capital Markets Board of Turkey (the "Board") is required. Obtaining permission is particularly important given that the consequences of determination by the Board that such activities are carried out without the permission from the Board may have severe consequences.

II. Capital Market Activities

According to Article 2 of the CML, "capital market instruments, issuance of these instruments, public offerors, capital market activities, capital market institutions, stock exchanges and other organized markets where capital market instruments are traded, market operators, Turkish Capital Markets Association,

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