News & Insights

Search with filters

For further information,
please contact:

News & Insights

August 17, 2018

BRSA Continues to Facilitate Financial Restructuring

Legal Alerts
Banking & Finance

Recent Developments The Banking Regulatory and Supervisory Authority (“BRSA”) issued the Regulation on the Restructuring of Debts Owed to the Financial Sector (“Regulation”), which entered into force with its publication in the Official Gazette dated August 15, 2018 and numbered 30510. What’s New? Pursuant to the Regulation, debtors’ obligations to banks, leasing companies, factoring companies […]

August 17, 2018

CMB Temporarily Reduces Leverage Ratios for TRY Transactions

Legal Alerts
Capital Markets

Recent Development On August 15, 2018, the Capital Markets Board (“CMB”) published an announcement temporarily reducing the leverage ratio from 10:1 to 1:1 for FX market transactions where the Turkish lira (“TRY“) is on one side of the parity. The decision is effective between August 16, 2018 and September 3, 2018. What’s New? To protect […]

August 17, 2018

Loan Classifications Modified In Favor of Financial Restructuring

Legal Alerts
Banking & Finance

Recent Development The Banking Regulatory and Supervisory Authority (“BRSA“) amended the Regulation on Principles and Procedures Regarding the Classification of Loans and Reserves Set Aside for Such Loans (“Regulation”). The amendment entered into force with its publication in the Official Gazette No. 30510 on August 15, 2018. What’s New? Restructured loans are classified as and […]

August 16, 2018

Credit Card Installment Payment Plans Ceilings Updated

Legal Alerts
Banking & Finance

Recent Development The Banking Regulatory and Supervisory Authority (“BRSA”) and the Ministry of Trade updated the debit and credit card installment limits for purchases. The amendment to the Regulation on Bank Cards and Credit Cards (“Regulation”) and the amendment to the Regulation on Principles and Rules in Retail Trade (“Retail Trade Regulation”) entered into force […]

August 16, 2018

Turkish Banks Able to Acquire Shares More Easily

Legal Alerts
Banking & Finance

Recent Development The Banking Regulation and Supervision Agency (“BRSA“) has amended the Regulation on Bank Transactions Subject to Authorization and Indirect Shareholding (“Regulation”) with the regulation published in the Official Gazette No. 30509 on August 14, 2018 and entered in the force on the same date (“Amendment“). The BRSA joined the Capital Markets Board (“CMB“) […]

August 16, 2018

Added Fiscal Burdens on US Products

Legal Alerts
International Commercial and Trade

Following the recent developments, the Decision of the President of the Republic of Turkey regarding added fiscal burdens on import of certain products originating from the United States was published in the Official Gazette dated August 15, 2018 and No. 30510 (“Decision”). The Decision calls for added fiscal burdens on 22 separate categories of items […]

August 14, 2018

Personal Data Protection Board Publishes Recent Decisions Summaries

Legal Alerts
IT & Communications

Recent Development The Personal Data Protection Board (“Board”) published on its website summaries of its recent decisions in relation to (i) the request for deletion of a column in a newspaper consisting of personal data; (ii) the unlawful disclosure of sensitive personal data; and (iii) the unlawful transfer of personal data disclosed during the recruitment […]

August 13, 2018

Ministry of Industry and Technology Announces New Action Plan

Legal Alerts
International Commercial and Trade

Recent Development The Ministry of Industry and Technology (“Ministry”) recently announced its new action plan for the next 100 days, which envisages the completion of several ongoing projects and the launching of various new projects. What Does the Action lan Include? The Ministry’s 100-day action plan provides for a series of projects ranging from R&D […]

August 10, 2018

TİTCK Publishes New Circular on Product Tracking System

Legal Alerts
Healthcare

Recent Development The Turkish Medicines and Medical Devices Agency (“TİTCK”) recently published a new Circular on the Product Tracking System (“Circular“) establishing the main principles and procedures for the registration of medical devices and cosmetic products. What Does the Circular Say? Last year, the TİTCK launched the Product Tracking System (tr. “ÜTS“), to register, track, […]

July 31, 2018

Data Protection Board Publishes Decision on Employees of Data Controllers

Legal Alerts
IT & Communications

Recent Development The Personal Data Protection Board (“Board“) published a decision in the Official Gazette on May 31, 2018 in relation to the processing of personal data done by employees of data controllers with access to personal data outside of their authority and purpose of processing. What Does the Decision Say? Article 12(1) of Law […]

Page: