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 […]
Recent Development The Turkish Medicines and Medical Devices Agency (“TİTCK”) recently published a new draft Communiqué on Notified Bodies Operating in Medical Devices (“Communiqué“), repealing the previous communiqué. What Does the Communiqué Say? With the entry into force of the EU Regulation 2017/745 on medical devices and the EU Regulation 2017/746 on in vitro diagnostic […]
Recent Development The Turkish Medicines and Medical Devices Agency (“TİTCK”) recently published the latest version of the Good Manufacturing Practice (GMP) Certificates, updated in line with Turkey’s Pharmaceutical Inspection Co-operation Scheme (“PIC/S”) membership. What Does the Announcement Say? The TİTCK, following its membership in the PIC/S early this year, has been harmonizing the certification process […]
Recent Developments The Banking Regulatory and Supervisory Authority (“BRSA”) amended the Regulation on Loan Transactions of Banks and the Regulation on Establishment and Operation Principles of Financial Leasing, Factoring and Financing Companies in order to amend the maximum term of consumer loans and provide a restructuring opportunity for this type of loan. The amendments were […]
Recent Development The Central Bank of Turkey (“CBRT“) amended the Capital Movements Circular to clarify certain points and provide a new exception to the rules regarding the FX loan borrowings of Turkish subsidiaries of multinational companies. What Does the Amendment Say? Fully owned (directly or indirectly) Turkish subsidiaries of multinational companies will be able to […]
Recent Development The Council of Ministers’ decision amending the articles of association of the Central Bank of the Republic of Turkey (the “CBRT”) entered into force with its publication in the Official Gazette dated June 23, 2018 and numbered 30457. What’s New? In line with the new FX borrowing regime set out in the Decree […]
Recent Development The Banking Regulation and Supervision Authority (“BRSA”) published the Communiqué on Principles Regarding Debt Securities to be Included in the Calculation of Banks’ Equity (“Communiqué”). The Communiqué entered into force through its publication in the Official Gazette date June 7, 2018 and no. 30444. What’s New? Debt securities can be included in the […]
Recent Developments The Regulation on the Preparation of Administrative Provisions for the Type-Approval of Motor Vehicles with respect to their 112-based eCall in-Vehicle Systems Service and Privacy and Data Protection for the Users of Such System (2017/78/EU) (“Administrative Provisions Regulation”); the Regulation on the Technical Requirements and Test Procedures for the Type-Approval of Motor Vehicles […]
Recent Development The Energy Market Regulatory Council (“EPDK“) recently published a new Regulation on Consumer Services in the Electricity Market (“Regulation“), introducing new provisions for bilateral agreements to be executed between consumers with low consumption rates and electricity suppliers and repealing the previous regulation dated May 8, 2014. Provisions of the Regulation on bilateral agreements […]
Recent Developments The Turkish Medicines and Medical Devices Agency (“TİTCK”) recently announced the results of its cosmetics sector market surveillance and inspection conducted between January and March 2018. What Do the Results Say? The TİTCK’s Cosmetics Supervision Department published the list of unsafe and non-compliant cosmetics products detected during the first quarter of 2018. Of […]
