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June 28, 2017

Turkey Publishes Draft Copyright Law Amendment

Legal Alerts
Intellectual Property
IT & Communications

Recent developments The Draft Law Amending the Law No. 5846 on the Protection of Intellectual and Artistic Works (“Draft Amendment Law”) was published for opinion on May 5, 2017. The Draft Amendment Law changes 36 articles of the Law No. 5846 on the Protection of Intellectual and Artistic Works (“Copyright Law”) and brings significant changes, […]

June 20, 2017

Introduction of Detailed Security Measures for Turkish Bank Branches

Legal Alerts
Banking & Finance

Recent development The Turkish Banking Regulation and Supervision Agency (the “BRSA”) has recently amended the “Regulation on Banks’ Transactions Subject to Approval and Indirect Bank Shareholding” (the “Regulation“) effective as of June 9, 2017. Overview of the Amendments The amendments change the security measures for banks opening domestic branches. Turkish banks must consider the following […]

June 16, 2017

TİTCK Publishes Licensed Products List

Legal Alerts
Healthcare

Recent Development The Turkish Medicines and Medical Devices Agency (the “TİTCK”) recently published the list of licensed products, available here (in Turkish). From now on, the TİTCK will regularly update and publish the licensed products list on their website. What the announcement says The TİTCK stated that for licensed products that do not appear on […]

June 16, 2017

Redefining Financial Holding Company Criteria

Legal Alerts
Banking & Finance

Recent development The Turkish Banking Regulatory and Supervisory Authority (the “BRSA”) has recently amended the Regulation on Financial Holding Companies (the “Financial Holding Regulation”). The amendments were published in the Official Gazette No. 30088 on June 6, 2017, and will be effective as of January 1, 2017. What the regulation changes The Financial Holding Regulation […]

June 15, 2017

TİTCK Launches New Product Tracking System for Medical Devices

Legal Alerts
Healthcare

Recent Development The Turkish Medicines and Medical Devices Agency (“TİTCK”) recently announced that the registration pages of the Product Tracking System (“ÜTS”) for medical devices are now available. Background The TİTCK and the Scientific and Technological Research Council of Turkey (“TÜBİTAK“) executed an agreement on January 7, 2014, establishing the ÜTS. The ÜTS registers, tracks, […]

June 15, 2017

Amendments to Turkish Banks’ Capital Adequacy

Legal Alerts
Banking & Finance

Recent developments The Turkish Banking Regulation and Supervision Agency (the “BRSA”) has recently amended the “Regulation on Measurement and Evaluation of Capital Adequacy of Banks” (the “Capital Adequacy Regulation“) effective as of June 6, 2017. Overview of the Amendments The amendments to the Capital Adequacy Regulation introduced material changes to the information reported  every trimester […]

June 15, 2017

Turkish Minister of Finance Announces New Withholding Liability for Foreign E-Commerce Websites

Legal Alerts
Tax

Recent Development On June 12, 2017, the Turkish Minister of Finance, Naci Ağbal, announced the introduction of a new withholding tax liability for non-resident companies that engage in e-commerce. In his statement to the press, the Minister of Finance highlighted the following points: The government is currently working on a new Council of Ministers Decision […]

June 5, 2017

Turkey Unveils New Tax Amnesty Law

Legal Alerts
Tax

Recent Development On May 27, 2017, the Law on the Restructuring of Certain Receivables and Amendment of Certain Laws and Decree-Laws No. 7020 (“Amnesty Law“) was published in the Official Gazette No. 30078 and entered into force. The Amnesty Law introduces a new amnesty for certain public receivables in relation to the period before March […]

May 31, 2017

TİTCK Announces New Electronic System for Value Transfers

Legal Alerts
Healthcare

Recent developments The Turkish Medicines and Medical Devices Agency (the “TİTCK”) recently introduced and made available a new Electronic Value Transfer Notifications System for use of licensees and authorized persons for their value transfer notifications. Background The Regulation on the Promotion of Pharmaceutical Products for Human Use (the “Promotion Regulation”, available here in Turkish) requires […]

May 31, 2017

Turkey Modifies Environmental Impact Assessment Regulation

Legal Alerts

Recent Development The Ministry of Environment and Urbanization (“Ministry”) recently amended the Environmental Impact Assessment Regulation (Çevresel Etki Değerlendirmesi Yönetmeliği) (“EIA Regulation“) to introduce the concept of capacity increase assessment, new standards for the revision of EIA reports, and certain new thresholds. The amendments were published on the Official Gazette and entered into force on […]

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