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News & Insights

March 27, 2019

The Data Protection Authority Publishes New Guidelines and Documents on Data Protection

Legal Alerts
IT & Communications

Recent Development The Personal Data Protection Authority (“Authority“) recently published the Information Note on Data Protection Law and Glossary of Terms, Guideline on Data Privacy and Guideline on Fulfillment of the Obligation to Inform on its website. What’s New? Documents published by the Authority provide detailed information and explanations regarding data protection within the framework […]

March 26, 2019

Lower Tax Costs for Turkish Eurobond and Sukuk Issuances, Tier I-II Loans and Securitizations

Legal Alerts
Tax

Recent Development The Presidential Decree No. 842 (“Decree”), published in the Official Gazette dated 21 March 2019 and No. 30721, introduced new withholding tax rates for income derived from certain securities.   What Does the Decree Say?  1) The following amendments were made to the withholding tax rates applied on the interest that Turkish resident […]

March 18, 2019

Turkey Publishes Regulation on Tobacco Products

Legal Alerts
Intellectual Property

Recent Developments The Ministry of Agriculture and Forestry (“Ministry”) introduced the Regulation on Principles and Procedures Regarding the Method of Production, Labelling and Inspection of Tobacco Products (“Regulation”), which entered into force by publication in the Official Gazette on March 1, 2019. The Regulation sets out rules regarding the method of production and plain packaging […]

March 15, 2019

TİTCK Publishes Guideline on Registration of Technical Service Providers and Relevant Technical Personnel

Legal Alerts
Healthcare

Recent Developments The Turkish Medicines and Medical Devices Agency (“TİTCK“) published the Guideline on the Registration of Technical Service Providers and Relevant Technical Personnel (“Guideline“) on March 7, 2019. The Guideline sets out the principles and procedures regarding the registration of technical service providers and relevant technical personnel to the Product Tracking System (ÜTS). What’s […]

March 14, 2019

Financial Restructuring vs. Konkordato/Composition (Turkish Scheme of Arrangement)

Publications
Banking & Finance
Dispute Resolution

Dear colleagues, This “Financial Restructuring vs. Konkordato/Composition (Turkish Scheme of Arrangement)” is presented as a reference source to give all market participants a schematic comparison of these two financial restructuring techniques available to Turkish debtors in light of the fast moving legal and market developments in Turkey. We hope that you find it useful. For […]

March 7, 2019

Ministry of Health Publishes Regulation on Dialysis Centers

Legal Alerts
Healthcare

Recent Development The Ministry of Health (“Ministry”) introduced the Regulation on Dialysis Centers (“Regulation”), which entered into force by publication in the Official Gazette on March 1, 2019. The Regulation sets out the principles and procedures regarding centers and units conducting dialysis treatments. What’s New? The Regulation provides detailed rules with respect to the planning, […]

March 5, 2019

The Ministry Publishes FAQs for the FX Payment Ban

Legal Alerts
Banking & Finance

Recent DevelopmentThe Ministry of Treasury and Economy (the “Ministry“) had amended the FX payment ban exemptions on November 16, 2018. The Ministry recently published its responses to the Frequently Asked Questions (FAQs) about these amendments. What’s New? For mixed agreements, all agreement types included therein must benefit from the exemption in order to denominate the […]

March 5, 2019

Cosmetics Safety: Turkey Continues Cracking Down on Unsafe and Non-Compliant Cosmetic Products

Legal Alerts
Healthcare

Recent Development The Turkish Medicines and Medical Devices Agency (“TİTCK”) recently announced the results of its cosmetics sector market surveillance and inspection conducted between October and December 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 fourth quarter of 2018. Of […]

February 27, 2019

Maximum Terms of Consumer Loans Increased

Legal Alerts
Banking & Finance

Recent Development The Banking Regulatory and Supervisory Authority (“BRSA”) amended the Regulation on Credit Transactions of Banks and the Regulation on Establishment and Operation Principles of Financial Leasing, Factoring and Financing Companies (the “Amendment“). The Amendment entered into force upon its publication on the Official Gazette dated February 26, 2019 with No. 30698. What’s New? […]

February 27, 2019

BRSA Facilitated Turkish Banks’ Cross-Border Activities

Legal Alerts
Banking & Finance

Recent Development The Banking Regulation and Supervision Agency (the “BRSA“) amended its Regulation on Banks’ Transactions Subject to Approval and Indirect Shareholding (the “Amendment”). What’s New? Currently, Turkish banks must obtain approval from the BRSA to establish new subsidiaries in Turkey or abroad; to acquire any shares of domestic or foreign companies; or to open […]

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