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News & Insights

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

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 […]

July 19, 2017

Property Portfolios of Turkish Banks

Legal Alerts
Banking & Finance

Recent development The Turkish Banking Regulation and Supervision Agency (the “BRSA”) has recently made changes to the Regulation on Bank Equity Capital (the “Regulation”). The amendment was published in Official Gazette No. 30121 on July 11, 2017 and entered into force on the same date. Overview of the Amendment Article 9 of the Regulation regulates […]

July 18, 2017

New Capital Adequacy Calculation for Turkish Insurance Companies

Legal Alerts
Banking & Finance

Recent development The Prime Ministry Undersecretariat of the Treasury (“Treasury”) recently amended the Regulation for Measurement and Evaluation of Capital Adequacy of Insurance, Reassurance and Pension Companies (the “Regulation“). The amendments were published in the Official Gazette No. 30121 on July 11, 2017, and entered into force on the same date. Overview of the Amendments […]

July 18, 2017

Turkey to Extend Scope of Mandatory After Sales Services to Industrial Goods

Legal Alerts
International Commercial and Trade

Recent Development The Ministry of Customs and Trade (the “Ministry”) published on its website a draft regulation amending the Regulation on After Sales Services (the “After Sales Services Regulation”). Companies may comment and provide feedback on the draft regulation by submitting the form provided on the Ministry’s website. What’s new? One significant development introduced by […]

July 7, 2017

No More Studio Apartments: New Planned Areas Zoning Regulation

Legal Alerts
Real Estate

Recent developments Turkey’s Ministry of Environment and Urbanization recently published the new Planned Areas Zoning Regulation delineating the procedures and principles for construction projects and the planning, technology, health and sustainable environment conditions of zoning areas (“New Regulation”). The New Regulation will enter into force on October 1, 2017 and will abolish the current Planned […]

July 7, 2017

Ownership Data Sharing Made Easier for Turkish Sovereign Bonds

Legal Alerts
Capital Markets

Recent Development The Capital Markets Board of Turkey recently amended the Communiqué on the Principles Regarding Book-Entry Recording of Dematerialized Capital Market Instruments No. II-13.1 (the “Communiqué“), effective as of June 30, 2017. Overview of the Amendment The amendments introduce a new exception to the confidentiality obligation of the Central Registry Agency (the “CRA“), the central […]

July 5, 2017

TİTCK Publishes New Guidelines on Analysis Laboratories for 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 Contracted Analysis Laboratories for Medicinal Products for Human Use (the “Guidelines”). The Guidelines are effective from the publication date and they repeal the previous guidelines dated January 25, 2017. What’s new? The Guidelines have been adopted […]

July 4, 2017

TİTCK Presents Draft Regulation on Registering, Monitoring and Tracking Medical Devices

Legal Alerts
Healthcare

Recent Development The Turkish Medicines and Medical Devices Agency (the “TİTCK”) recently published on its website a draft Regulation on Monitoring and Tracking of Medical Devices (the “Regulation”). Companies may comment and provide feedback on the draft Regulation by filling out the form provided on the TİTCK’s website and returning it by post or through […]

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