Recent Development The Turkish Medicines and Medical Devices Agency (“TİTCK“) published the Batch Release Guideline (“Guideline“) on October 31, 2018. The Guideline provides instructions for companies that will apply to the TİTCK to obtain batch certificates and permissions. What’s New? Pursuant to the Regulation on Manufacturing Sites for Medicinal Products for Human Use (“Regulation“), companies […]
Recent Development The Turkish Medicine and Medical Devices Agency (“TİTCK“) announced on November 5, 2018 that companies failing to notify the TİTCK regarding meetings, seminars or symposiums for scientific and educational activities they supported will be sanctioned through the Meeting Notification System. What’s New? Sales centers are required to comply with the rules set forth […]
Recent Development The World Bank Doing Business 2019: Training for Reform report (“Report“) comparing business regulations for domestic firms in 190 countries was released on October 31, 2018. Turkey ranked 43rd in the global ease of doing business index, climbing 17 places from the previous year’s rankings. What Does the Report Say? The highlights of […]
Recent Developments The Banking Regulatory and Supervisory Authority (the “BRSA”) distributed to the members of The Turkish Banks Association (the “TBA“) an amendment regulation (the “Draft Regulation“) to the Regulation Regarding the Restructuring of Debts Owed to the Financial Sector (the “Regulation“) on November 1, 2018. What’s New? If the Draft Regulation is published in […]
Recent Development The Decree No. 257 on the Extension of the Building Registration Certificate Application Date for Buildings Constructed Before December 31, 2017 Without a License or In Violation of Their Licenses (“Decree”) was published in the Official Gazette No. 30581 and dated October 31, 2018. What Does the Decree Say? The Decree extends the […]
Recent Developments The Law No. 7147 on the Turkish Development and Investment Bank Joint Stock Company (the “Law“) entered into force with its publication in the Official Gazette dated October 24, 2018. What’s New? Established in 1999, the Turkish Development Bank Joint Stock Company will continue its operations as a development and investment bank under […]
Recent Developments The Turkish Medicines and Medical Devices Agency (“TİTCK“) published the Application and Registration Guideline (“Guideline“) on October 17, 2018. The Guideline was drafted based on the feedback provided by companies operating in the cosmetics sector regarding problems they encountered while utilizing the application and tracking systems. What’s New? The Guideline will facilitate companies’ […]
Recent Development The Ministry of Trade (“Ministry“) continues its inspections on the unfair price increases of consumer goods and services following the recent amendments to the Regulation on Commercial Advertising and Unfair Commercial Practices (“Regulation“) adopted based on Law No. 6502 on the Protection of Consumers (“Consumer Protection Law“). What’s New? According to the recent […]
Recent Developments The Turkish Supreme Court (Yargıtay) (“Supreme Court“) ruled that obtaining spousal consent is not required for avals. The Grand General Assembly of Case Law Unification’s decision dated April 20, 2018 was published in the Official Gazette dated October 16, 2018 and numbered 30567 (the “Supreme Court Unification Decision”). What does the law say? […]
Recent Developments The Banking Regulatory and Supervisory Authority (“BRSA“) amended the Regulation on Payment Services, Electronic Money Issuance, Payment Institutions and Electronic Money Institutions (the “Regulation”). The amendments were published and entered into force on October 12, 2018. What’s New? In accordance with the previous amendments to the Law No. 6493 on Payment and Securities […]
