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Client Alerts

Client Alert MAR 2022

Significant Changes to the Turkish Merger Control Rules and Procedure

Turkish Competition Authority (the “TCA”) has amended the Communiqué No. 2010/4 on Mergers and Acquisitions Subject to..

Client Alert OCT 2021

Turkish CMB paving the way to NPL securitisations

On 16 October 2021, the Capital Markets Board of Turkey (the “CMB”) announced..

Client Alert SEP 2021

The Recommendations Regarding Data Protection in the Field of Artificial Intelligence

The Recommendations on Data Protection in the Field of Artificial Intelligence..

Client Alert JUL 2021

Regulation on Sharing of Secret Information is Published

The “Regulation on Sharing of Secret Information” (“Regulation”) prepared by the Banking Regulation ..

Client Alert FEB 2021

The Constitutional Court Decision on the Right to Demand Protection of Personal Data

The Constitutional Court (the “Court”) decision has been published in the Official Gazette dated February 5, 2021 related to..

Client Alert JAN 2021

Anonim Şirketlerde Elektronik Ortamda Yönetim Kurulu ve Genel Kurul Toplantıları

COVID-19 salgını sadece özel hayatımızda değil, kurumsal hayatımızda da köklü değişikliklere neden oldu. Genel Kurul mevsiminin..

Client Alert JAN 2021

Regulation Regarding Valuable House Tax

The General Valuable House Tax Application Communiqué has been published. Accordingly, the owners of the houses..

Client Alert JAN 2021

Nedir bu SPAC?

SPAC, nam-ı diğer Special Purpose Acquisition Company, COVID-19 pandemisinin dünyayı sarstığı 2020 yılında, küresel sermaye..

Client Alert NOV 2020

Deadline for Service Providers to Transfer Their Existing Consents on Commercial Electronic Messages to the Message Management System: December 1, 2020

With the Regulation Amending the Regulation on Commercial Communication and Commercial Electronic Messages..

Client Alert NOV 2020

Restructuring of Public Receivables and Repatriation of Offshore Assets to Turkey

The Law Relating to Restructuring of Some Receivables and Amendments to Various Laws” (the “Law”) which...

Client Alert JUL 2020

Important Amendments to the Competition Law Entered Into Force

The recent changes made to the Law on the Protection of Competition numbered 4054 (the “Competition Law”) grant broader authority to the Competition Board in relation to remedies for..

Client Alert MAY 2020

Turkish Covered Bonds under the spotlights

On 14 May 2020, the Capital Markets Board of Turkey (the “CMB”) made certain amendments to the Communiqué on Covered Bonds

Client Alert APR 2020

COVID-19 and Data Protection Compliance in Turkey

Following the outbreak of COVID-19 and its development into a global pandemic, organizations have been implementing exceptional measures to..

Client Alert FEB 2020

What is new for the debt capital markets in Turkey?

On February 25, 2020, a new law amended the Turkish banking and debt capital markets legislation, introducing new concepts and new measures. The new amendments to the..

Client Alert JAN 2020

Do Turkish Companies Have to Comply With the California Consumer Privacy Act (“CCPA”)?

Your business complies with the General Data Protection Regulation (“GDPR”) and/or Turkish Personal Data Protection Law numbered 6698 and its secondary legislation (“PDPL”); but..

Client Alert DEC 2019

Amendment to Law on Payment and Security Settlement Systems, Payment Services and Electronic Money Institutions

Turkey has passed a new law published in the Official Gazette on November 22, 2019 (the “Amendment”) amending the Law on Payment and Security Settlement Systems, Payment Services and Electronic Money Institutions numbered 6493 (the “Law”).

Client Alert NOV 2019

Potential Certification Mechanisms Under the Turkish Personal Data Protection Law No. 6698

With the November 6, 2019 dated announcement, the Turkish Personal Data Protection Authority (the “Authority”) announced that it aims to..

Client Alert MAY 2019

Guideline on Conducting Data Inventory is Published by Turkish Personal Data Protection Authority

The Turkish Personal Data Protection Authority (the “Authority”) has published on its website the long-awaited guideline on the preparation of data inventories by data controllers on April 29, 2019.

Client Alert FEBRUARY 2019

New Standardization for Data Breach Incidents in the Scope of Turkish Personal Data Protection Legislation

Article 12 of the Law no. 6698 on the Protection of Personal Data (“PDPL”) regulates security of personal data. In addition to PDPL, the Turkish Personal Data Protection Board (the “Board”) published a guideline on this matter (i.e. Guideline on Security of Personal Data-Technical and Administrative Measures).

Client Alert JANUARY 2019

The Draft Regulation on the Information Systems and Electronic Banking Services of the Banks announced for public consultation

On 25 December 2018, the Banking Regulatory and Supervisory Authority (“BRSA”) published the Draft Regulation on the Information Systems and Electronic Banking Services of the Banks (“Draft Regulation”). The Draft Regulation will govern information systems management and electronic banking services as well as related risk management. Once adopted, the Draft Regulation will replace the BRSA’s Communiqué on Principles Regarding the Information System Management of the Banks1

Client Alert DECEMBER 2018

MCB backed ABS – As a Brand New Turkish capital markets’ product

Recent regulatory developments unveiled a new initiative aimed at addressing the liquidity needs and increased funding costs of Turkish banks. The initiative opens a new chapter in the Turkish securitisation market by allowing the issuance of ABS backed by MCB.

Client Alert NOVEMBER 2018

Amended: Exceptions to F/X Restrictions in Contracts Between Turkish Residents

The Ministry of Treasury and Finance amended the recently introduced exceptions to the restriction on F/X denominated or indexed contracts between Turkish residents.

Client Alert NOVEMBER 2018

Trade reporting of derivative transactions in Turkey becomes mandatory

Turkish banks and intermediaries are for the first time required to report their over-the-counter and on exchange derivatives trades to a central data registry enabling Turkey to meet its commitments under the G20 regulatory rules.

Client Alert OCTOBER 2018

Exceptions Announced to F/X Restrictions in Contracts Between Turkish Residents

The Ministry of Treasury and Finance announced the exceptions to recently introduced restrictions on F/X denominated or indexed contracts between Turkish residents.

Client Alert SEPTEMBER 2018

New Measures to Be Taken By Turkish Companies

The Ministry of Trade introduced the Communiqué on the Implementation of Article 376 of the Turkish Commercial Code Numbered 6102 (“Communiqué”) detailing the measures to be implemented in companies subject to technical bankruptcy.

Client Alert AUGUST 2018

New Measures on OTC Derivate Transactions in Turkey

The Turkish Capital Markets Board (“CMB”) and Borsa Istanbul (“BIST”) rolled out new announcements this week launching measures on OTC derivative transactions - partly found guilty for increasing the vulnerability of the Turkish economy to volatility and exposing it to market players with an appetite to benefit from such conditions by means of these instruments.

Client Alert AUGUST 2018

Critical Legislation on Turkish Banks

The Banking Regulatory and Supervisory Agency (“BRSA”) introduced the Regulation on the Restructuring of Debts in the Financial Sector1 (“Regulation”) in an effort to further facilitate successful financial restructuring in the Turkish market.

Client Alert AUGUST 2018

New limitations by BRSA on Turkish Banks

In response to the recent significant decline in the value of the Turkish Lira, a number of measures were taken by the Turkish government over the weekend and at the beginning of this week in order to stabilise the currency.

Client Alert MAY 2018

Critical New Exceptions and Clarifications to Fx Borrowing Restrictions – Decree 32

With the amendments to Decree No. 32 effective as of 2 May 2018, a new generation of restrictions have been introduced on foreign currency borrowing by Turkish persons.

Client Alert MAY 2018

Data Protection Rules in Turkey – What Next?

Turkey’s first Data Protection Law (“DPL”) came into force for the most part in April 2016. However, certain important provisions came into force later or were introduced by the regulations under the DPL published in late 2017.

Client Alert MAY 2018

New Competition Law Rules on Online Sales

The Turkish Competition Authority (“TCA”) has completed revising the Guideline on Vertical Agreements (“Guideline”) and published the updated version on its official website on March 30, 2018.