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News & Insights

November 16, 2018

CMB Facilitates Alternative Financing Through Securitization

Legal Alerts
Capital Markets

Recent Development The Capital Markets Board (“CMB”) amended the Communiqué on Asset-Backed and Mortgaged-Backed Securities No. III-58.1 (“AMBS Communiqué”) and the Communiqué on Covered Bonds No. III-59.1 (“Covered Bonds Communiqué”). The amendments entered into force with their publication in the Official Gazette dated November 11, 2018 and with No. 30592. What’s New? Pursuant to the […]

November 15, 2018

TİTCK Publishes Batch Release Guideline

Legal Alerts
Healthcare

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 […]

November 12, 2018

TİTCK Announces Changes for Sanctions Regarding Meeting Notification Duty

Legal Alerts
Healthcare

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 […]

November 7, 2018

Turkey Climbs Ranks in World Bank’s Global Ease of Doing Business Index

Publications

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 […]

November 5, 2018

Turkish Financial Restructuring – International Banks Back in the Game!

Legal Alerts
Banking & Finance

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 […]

November 5, 2018

Zoning Peace Application Date Extended

Legal Alerts
Real Estate

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 […]

November 2, 2018

Major Structural Changes to Turkish Development Bank

Legal Alerts
Banking & Finance

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 […]

October 26, 2018

TİTCK Publishes Application and Registration Guideline

Legal Alerts
Healthcare

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’ […]

October 25, 2018

Ministry of Trade Conducts Inspections for Unfair Increase in Product Prices

Legal Alerts
International Commercial and Trade

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 […]

October 24, 2018

Turkish Supreme Court Rules Spousal Consent Not Required in Avals

Legal Alerts
Banking & Finance

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? […]

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