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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 […]

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 […]

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