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News & Insights

August 21, 2017

Sale of NPLs of State-Owned Banks

Legal Alerts
Banking & Finance

Recent Development The Turkish Banking Regulatory and Supervisory Authority (the “BRSA”) issued a new regulation with regard to sale of non-performing loans (donuk alacaklar) of state-owned banks and their financial subsidiaries (the “Sellers”) to asset management companies (the “Regulation”). The Regulation was published in Official Gazette No. 30151 on August 11, 2017 and entered into […]

August 18, 2017

Borsa Istanbul’s Product Range Deepens

Legal Alerts
Capital Markets

Recent Development In our latest client alert, we explained the implications of the recent exemption introduced by the Borsa Istanbul A.Ş. (“Borsa Istanbul”) for companies that do not meet certain financial requirements for listing on the Star Market. The July 31, 2017 amendment to the Borsa Istanbul Listing Directive (the “Directive”) also introduced new products […]

August 9, 2017

Turkish Competition Authority to Update Guidelines on Vertical Agreements

Legal Alerts
Competition

  Recent Development The Turkish Competition Authority (“Authority“) recently published on its website the draft Guidelines on Vertical Agreements (the “Draft Guidelines”) for public consultation, along with an informatory note for the reasoning behind the amendments. Interested parties may submit their opinions and/or recommendations by September 11, 2017 by sending an e-mail to duzenleme@rekabet.gov.tr. What’s […]

August 8, 2017

Public offerings and listing made easier in Turkey

Legal Alerts
Capital Markets

Recent Development On July 31, 2017, Borsa İstanbul A.Ş. (“Borsa Istanbul“) amended its Borsa Istanbul Listing Directive (the “Directive“), relaxing and softening the listing requirements for the Star Market (Yıldız Pazar), which is expected to increase the number and volume of initial public offerings. What changed? Companies seeking listing on the Borsa Istanbul’s Star Market […]

July 28, 2017

TİTCK Publishes New Guidelines on Stability Testing of Active Ingredients and Final Products

Legal Alerts
Healthcare

Recent Development The Turkish Medicines and Medical Devices Agency (the “TİTCK”) recently published the Guidelines on Stability Testing of Active Ingredients and Final Products (the “Guidelines”, available here in Turkish), based on the Regulation on Licensing of Medicinal Product for Human Use. What the Guidelines Say The Regulation on Licensing of Medicinal Products for Human […]

July 27, 2017

TİTCK Publishes New Guidelines on Packaging, Manuals and Tracking of Medicinal Products for Human Use

Legal Alerts
Healthcare

Recent Development The Turkish Medicines and Medical Devices Agency (the “TİTCK”) recently published on its website the Guidelines on the Regulation on Package Information, Manuals and Tracking of Medicinal Products for Human Use (available here in Turkish). The TİTCK also published opinions submitted by institutions and associations as well as its assessment of these opinions. […]

July 25, 2017

Redefined Small and Medium-Sized Enterprises

Legal Alerts
Banking & Finance

Recent development The Turkish Banking Regulation and Supervision Agency (the “BRSA“) has recently amended the “Regulation on Calculation of Banks’ Liquidity Coverage Ratio” (the “Regulation“), and the definition of the Small and Medium-Sized Enterprise (“SME“) in the Regulation has changed effective as of July 13, 2017. Overview of the Amendment Previously, SMEs were defined by referring to […]

July 25, 2017

Esin Attorney Partnership and Baker McKenzie advise Marubeni on its acquisition of a 45.5 % interest in Saide Textile

News
Deal Announcements
Mergers & Acquisitions

Istanbul, , Turkey / Tokyo, Japan July 25, 2017 – Esin Attorney Partnership, a member of Baker & McKenzie International and Baker McKenzie advised Marubeni on its acquisition of a 45.5% interest in Saide Tekstil Sanayi ve Ticaret Anonim Şirketi (Saide), an apparel company in Turkey, in the largest ever investment by Marubeni’s apparel department. Saide […]

July 25, 2017

Introducing the Risky Insureds Pool for Motor Third Party Liability Insurance

Legal Alerts
Insurance

Recent development The Turkish Under Secretariat of the Treasury (“Treasury“) has recently amended the Regulation on the Tariff Implementation Principles on MTPL Insurance (“Regulation“). The recent amendments introduce a new concept of “Risky Insured Pool (“Pool“)”, which regards insureds with high damage frequencies. The amendments were published in the Official Gazette No. 30121 on July 11, 2017; […]

July 24, 2017

Significant changes to the famous Decree No. 32

Legal Alerts
Banking & Finance

Recent development The Turkish Council of Ministers amended the Decree No. 32 on the Protection of the Value of Turkish Currency, effective from 3 July 2017. Overview of the Amendment The amendment allows companies that export standard or non-standard unprocessed precious metals to enjoy tax advantages by making a request to the Republic of Turkey […]

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