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News & Insights

July 18, 2019

New “Tourism Share” Payment Liability on Certain Commercial Enterprises

Legal Alerts
Tax

Recent Development The Law No. 7138 on the Tourism Publicity and Development Agency (“Law“), published in the Official Gazette No. 30832 dated 15 July 2019, established the Tourism Publicity and Development Agency (“Agency“), a separate legal entity subject to private law except for certain issues specified in the Law. One of the Agency’s income resources […]

July 17, 2019

Changes to Gold, Silver and Platinum Loans

Legal Alerts
Banking & Finance

Recent Development The Ministry of Treasury and Economy amended the Communiqué No: 2008-32/35 on the Decree No. 32 Regarding Protection of the Value of the Turkish Currency (the “Amendment“) with respect to gold, silver and platinum loans. The Amendment entered into force upon its publication on the Official Gazette No. 30830 dated July 13, 2019. […]

July 16, 2019

Document Requirements Decreased for Prosecutions Made Before the Turkish Patent and Trademark Office Without the Representation of an Attorney

Legal Alerts
Intellectual Property

Recent Developments The Regulation Regarding the Amendments made on the Regulation on the Implementation of Intellectual Property Law (“Regulation“) was published and entered into force on July 8, 2019. With the Regulation, Turkey continues to shorten prosecutions and increase the efficiency of the intellectual property system by making new improvements and legislation changes. The common […]

July 12, 2019

Turkish Account Bank’s Involvement in Loan Disbursements

Legal Alerts
Banking & Finance

Recent Development The Central Bank of Turkey amended the Capital Movements Circular. What Do the Amendments Say?  As explained in our Client Alert dated February 19, 2019, Turkish banks are required to obtain the receiving company’s written declaration as well as the substantiating information and documents in order to determine whether unidentified FX transfers made […]

July 10, 2019

To Restructure or Not To Restructure?

Legal Alerts
Banking & Finance

The concept of “financial restructuring” was introduced in Turkey following the country’s currency crisis in the summer of 2018. Financial restructuring, defined as revising a debtor’s financial structure and redetermining its financial strategy, became the major agenda of Turkish financial institutions. Regulators intervened immediately and began working to form the legal infrastructure for restructuring. The […]

July 10, 2019

Turkish Data Protection Board Publishes Decisions on Personal Data Breaches

Legal Alerts
IT & Communications

Recent Development The Turkish Data Protection Board (“Board“) published three decisions regarding its approach to personal data breaches on its website on July 3, 2019. What Are the Decisions?  The Board’s first decision concerns a data breach in a transportation company’s systems. The data controller did not take the necessary measures to prevent the breach […]

July 8, 2019

Developments on Dishonored Checks Issued During Composition Proceedings

Legal Alerts
Dispute Resolution

Recent Development The 19th Criminal Chamber of the Court of Cassation resolved the contradictory approach of different criminal chambers of regional appellate courts on the criminal liability of legal entity representatives for issuing checks that were dishonored during composition proceedings in its decision dated 10 June 2019 and No. 2019/23974-2019/9339 (“Decision”). In its decision, the […]

July 5, 2019

Turkey Publishes Regulation on Personal Health Data

Legal Alerts
IT & Communications

Recent Developments The Regulation on Personal Health Data (“Regulation“), prepared by the Ministry of Health on the basis of the Law No. 6698 on Personal Data Protection (“Law“), was published in the Official Gazette No. 30808 on June 21, 2019. The Regulation annuls the Regulation on Processing and Ensuring the Privacy of Personal Health Data […]

July 3, 2019

Monthly Delay Interest Rate for Public Receivables Redetermined as 2.5%

Legal Alerts
Tax

Recent Development The Presidential Decree No. 1266 (“Decree“), published in the Official Gazette dated June 29, 2019 and No. 30816, redetermined the delay interest rate within the scope of Article 51 of the Law No. 6183 on the Collection Procedure of Public Receivables. What Does the Decree Say?  According to the related article, a monthly […]

July 1, 2019

TİTCK Publishes Guidelines for Phase 1 Clinical Trial Research Centers

Legal Alerts
Healthcare

Recent Developments The Turkish Medicines and Medical Devices Agency (“TİTCK”) published the Guidelines for Phase 1 Clinical Trial Research Centers (“Guidelines”) on June 24, 2019. The Guidelines provide guidance for sponsors, investigators and research centers regarding phase 1 clinical trials and audits conducted by the TİTCK. What’s New? Pursuant to the Regulation on Clinical Trials […]

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